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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29558
Experience:  Taxes, Immigration, Labor Relations
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Probably a silly question but here goes.I never sent in the

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Probably a silly question but here goes.I never sent in the fbars before and this year I sent them in for the last 6 years,all the info I had.I also did both of my daughters 6 years each as we didn't know we had to do them.
Does the IRS send anything back, I know we can be fined,penelized etc for not sending them in,to let us know if anything has to be done or do we have to wait for the next 7 years for them to come up and say,Oh!! by the way you owe __________.Just wondering as I want to live normal and if need be use my saving when I need to and not save the money just in case.
Do they usually fine people like us or are they going after the rich folks.


Bernie McKenna


Hi and welcome to Just Answer!
Generally - the IRS may assess additional penalties within three years aftre your filing.
For FBAR reporting - the IRS doesn't send any confirmation - but you may always contact the IRS and verify if your forms were accepted.


In most situations - there should not be any penalties if you just missed reporting and was not aware. But as soon as you became aware - you filed for past years.
While penalties are possible - the IRS rare use this option.
The issue would be if you had unreported income and owe income taxes on that income.

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