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Our Services

FBAR & FATCA Reporting Services

Foreign financial accounts or assets may create separate FBAR and Form 8938 reporting obligations. FBAR (FinCEN Form 114) is filed electronically with FinCEN, separately from your U.S. income tax return. When required, Form 8938 is attached to the applicable annual tax return. Filing one form does not replace the other.

Henriquez Accounting & Tax Services helps individuals and businesses review applicable thresholds, account ownership and reporting requirements. We provide FBAR and Form 8938 preparation support throughout Florida and nationwide.

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What Is FBAR Reporting?

A U.S. person generally must file an FBAR when they have a financial interest in, or signature authority over, foreign financial accounts whose combined value exceeds $10,000 at any time during the calendar year. Exceptions may apply. FBAR is submitted through FinCEN’s BSA E-Filing System, separately from an income tax return.

Source: FinCEN FBAR reporting guidance.

Foreign accounts may include:

Foreign checking accounts
Foreign savings accounts
Foreign investment accounts
Foreign retirement accounts
Joint foreign accounts
Accounts where you have signature authority

Failure to file FBAR can result in significant penalties, even when no tax is owed.

What Is FATCA Form 8938?

The Foreign Account Tax Compliance Act (FATCA) requires certain U.S. taxpayers to disclose foreign financial assets on Form 8938.

Foreign assets may include:

Foreign bank accounts
Foreign brokerage accounts
Foreign stocks and securities
Interests in foreign entities
Foreign trusts
Foreign pensions
Certain foreign insurance products

Form 8938 applies to specified individuals and certain domestic entities whose specified foreign financial assets exceed the applicable threshold. Thresholds differ by filing status and whether the individual qualifies as living abroad. An individual who is not required to file an income tax return generally does not need to file Form 8938, even if assets exceed the threshold. FBAR obligations must be evaluated separately.

Sources: IRS FATCA guidance for individuals and IRS comparison of Form 8938 and FBAR.

FBAR & FATCA Services We Provide

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FBAR Preparation (FinCEN Form 114)

We prepare and electronically file FBAR reports for taxpayers with foreign financial accounts.

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FATCA Form 8938 Preparation

We determine filing requirements and prepare Form 8938 as part of your tax return.

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Foreign Asset Review

We review foreign accounts and investments to identify reporting requirements.

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Prior-Year FBAR Compliance

If you failed to file FBARs in previous years, we can help evaluate available compliance options.

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International Tax Compliance

We assist taxpayers with a variety of international reporting requirements and foreign asset disclosures.

Call (813) 321-7999

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Need Help With FBAR or FATCA Reporting?

Henriquez Accounting & Tax Services provides professional FBAR, FATCA, Form 8938, and international tax compliance services for individuals and businesses throughout Florida and nationwide.

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Common Countries We Work With

We assist clients with foreign accounts and assets located in:

Dominican Republic
Mexico
Canada
United Kingdom
Spain
Colombia
Venezuela
Trinidad & Tobago
Other international jurisdictions

Puerto Rico and other U.S. territories require separate analysis: an account located in a U.S. territory is not a foreign account for FBAR purposes. Form 8938 uses different territorial rules. Account location, tax residency and applicable exceptions must be reviewed for each filing.

Who Needs FBAR or FATCA Reporting?

You may need FBAR or FATCA reporting if you:

Maintain foreign bank accounts
Inherited foreign assets
Receive foreign pension income
Own foreign investments
Have signature authority over foreign accounts
Live abroad as a U.S. citizen
Receive income from foreign sources
Own interests in foreign businesses

Why Choose Henriquez Accounting?

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International Tax Experience

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FBAR & FATCA Reporting Assistance

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Bilingual English & Spanish Service

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Enrolled Agent (EA) Representation

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Virtual Appointments Available Nationwide

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Assistance for Individuals and Businesses

Client Reviews

What Our Clients Are Saying

    
 
 
          MERALIS REYNOSO 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a great experience with Henriquez Accounting and Tax Services. Pedro was professional, patient, and explained my individual tax return clearly. The process was organized and easy, and all my questions were answered. I highly recommend this firm for tax preparation in Zephyrhills.
  
 
         Massiel Martínez 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had an excellent experience with Henriquez Tax & Accounting. Their team is professional, knowledgeable, and genuinely takes the time to explain everything clearly. They made the entire process feel simple and stress-free, answered all my questions, and treated me with patience and respect. It’s refreshing to work with people who truly care about their clients and take pride in doing things correctly. I highly recommend Henriquez Tax & Accounting to anyone looking for reliable, trustworthy, and personalized tax or accounting services.
  
 
         Elian María 
 
 
 
 Trustindex verifies that the original source of the review is Google. Tuve una excelente experiencia con Henriquez Accounting & Tax Services durante mi proceso de solicitud del ITIN. Pedro me explicó claramente todos los requisitos, revisó cuidadosamente mis documentos e hizo que todo el proceso fuera sencillo y fácil de entender. El servicio fue profesional, eficiente y a un precio razonable. Recomiendo esta firma a cualquier persona que necesite ayuda para solicitar un ITIN.
  
 
         Karenann Wortmann 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great experience with Henriquez Accounting & Tax Services. They were knowledgeable, professional, and very easy to work with. Everything was explained clearly, and they made the whole process simple and stress-free. Their pricing was reasonable as well. I would definitely recommend them and will be using them again.
  
 
         JUANA MARTINEZ 
 
 
 
 Trustindex verifies that the original source of the review is Google. Henriquez is very knowledgeable helped me save more than 2000 in IRS interest and penalties. Highly recommend this firm to anyone who needs assistance with tax or IRS matters.
  
 
         Natalie Tucker 
 
 
 
 Trustindex verifies that the original source of the review is Google. Finally, a Bookkeeper that knows what they’re doing and gives you reports! I love that they pay attention to detail with the added spreadsheets, excellent communication and timely input. Business reports help me track my company progress and having also done analysis of personal finances gives me better tracking. I can’t say enough good things about Henrique and his team. I highly recommend them!!!!
  
 
         Napoleón arnaud 
 
 
 
 Trustindex verifies that the original source of the review is Google. Excelente servicio 👍
  
 
         Stephen J Hallahan 
 
 
 
 Trustindex verifies that the original source of the review is Google. estoy muy contenta con el trabajo de el contador nos ayudo a reducir tax due in capital gain, yo lo recomiendo
  
 
         Franks Air Conditioning & Heating, LLC 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been very pleased with the service we’ve received from Henriquez and his crew. They are always professional, knowledgeable, and extremely helpful with all of our business and personal needs. We highly recommend Henriquez Accounting to anyone looking for honest, dependable, and professional local accounting services in the Zephyrhills area.
  
 
         Sasha Ranade 
 
 
 
 Trustindex verifies that the original source of the review is Google. Outstanding International Tax Expertise in Zephyrhills!"I highly recommend [Henriquez Accounting and Tax Services for anyone in the Pasco County area needing specialized international tax help. Filing foreign assets and cross-border taxes can be incredibly stressful, but they made the entire process seamless.They possess a deep understanding of complex international tax laws and walked me through every requirement clearly. Their communication was prompt, professional, and reassuring throughout the entire filing process. It is rare to find this level of global tax expertise right here in Zephyrhills. I will absolutely be using their services again next year!

Read Our Google Reviews

Got Questions?

Frequently Asked Questions

What is the FBAR filing threshold?

FBAR filing is generally required when the total value of all foreign financial accounts exceeds $10,000 at any point during the year.

What happens if I forgot to file an FBAR?

There may be compliance options available depending on your circumstances. We can review your situation and determine the appropriate next steps.

Is FBAR the same as FATCA?

No. FBAR (FinCEN Form 114) and FATCA Form 8938 are separate reporting requirements with different filing thresholds and rules.

Do I need to report foreign retirement accounts?

Certain foreign retirement accounts may require reporting. Requirements vary depending on the country and account type.

Can you help with prior-year filings?

Yes. We assist clients with current-year and prior-year international reporting requirements

Do I Need to Report Foreign Accounts if They Earn No Income?

Yes. FBAR reporting requirements are based on the value of your foreign financial accounts, not whether the accounts generated income. Even if your foreign account earned no interest, dividends, or investment income, you may still be required to file an FBAR if the reporting threshold is met.

What Are the Penalties for Not Filing FBAR or FATCA Forms?

Penalties for failing to file FBAR or FATCA forms can be substantial. Depending on the circumstances, penalties may apply even when no tax is due. If you have missed prior-year filings, Henriquez Accounting can review your situation and help determine available compliance options.

Can Dual Citizens Be Required to File FBAR and FATCA Forms?

Yes. U.S. citizens, including dual citizens living abroad, may be required to report foreign financial accounts and assets. Many taxpayers are unaware that maintaining accounts in another country can trigger U.S. reporting requirements even if they already pay taxes in that country.

Do I Need to Report Foreign Accounts Held Jointly With Family Members?

Possibly. Jointly owned foreign accounts may still be subject to FBAR and FATCA reporting requirements. Reporting obligations depend on account ownership, account value, and other factors. We can review your accounts and determine the proper reporting requirements.

Can Henriquez Accounting Help With Late FBAR Filings?

Yes. We assist clients with current-year and prior-year FBAR and FATCA reporting. If you recently discovered a missed filing requirement, we can evaluate your situation and help you become compliant with U.S. reporting regulations.