For late filing of the FBAR you can face penalties of $10,000 or more if there was not a willful intent not to file and more than $100,000 or 50% of your account values, for willfully not filing on time. You can also face criminal charges for willfully not filing your FBAR. When you file your return late you will have an opportunity to explain why it was filed late and if you had a reasonable excuse the IRS may wave the penalty. Delinquent FBAR submission
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