FBAR and Other Financial Reporting Cases

Selected Cases Show Wide Range of Violations and Penalties

AARO’s Banking Committee Chair, Paul Atkinson, with the assistance of AARO President Doris Speer, prepared a document to give AARO members a sense of the breadth of the FBAR penalty landscape. This document contains a summary table showing the amount of penalties assessed, where the foreign accounts were located, how the individual was caught, whether the individual had received poor professional advice, and more. A short synopsis of the facts of each case follows the table.

Financial Reporting Chart 03MAY23