Foreign Assets FLEXCAST

Overview

Foreign asset reporting has become a high-stakes compliance issue; harder to ignore, easier to detect, and far more expensive when mishandled. In this course, Alice Orzechowski, CPA, CMA, EA walks through the evolution of offshore enforcement, including the practical implications of current penalty frameworks and key court-driven interpretations of willfulness and reasonable cause. This course will give you a clear, practitioner-focused breakdown of FBAR rules and FATCA reporting on Form 8938. The foreign asset reporting course also maps the main routes back into compliance and flags why quiet disclosure can create additional risk.

Highlights

FBAR rules. Form 8938. FinCEN Form 114.

Prerequisites

None.

Designed For

CPAs and tax professionals.

Objectives

Identify which U.S. persons must file a FBAR. Apply core FBAR filing requirements. Distinguish FBAR penalty categories and describe how courts and facts influence penalty exposure. Determine when Form 8938 is required. Evaluate compliance pathways for prior noncompliance and recognize why the IRS cautions against quiet disclosure.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.