- BIST10011,535-1.59%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,168.90-0.29%
- INTEREST37.00%-1.00
- BITCOIN82,043+0.04%
- October 19, 202612°
- BIST10011,535-1.59%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,168.90-0.29%
- INTEREST37.00%-1.00
- BITCOIN82,043+0.04%
- October 19, 202612°
Reporting accounts and assets in Türkiye: checklist
Determine your obligation to report your accounts and assets in Türkiye, prepare the FBAR, and consider late-filing options if necessary.
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1. Determine your reporting obligation
Check whether you are a U.S. citizen or tax resident, whether the total account value exceeds $10,000, and whether you have a financial interest or signature authority.
OKANLAWLegal & Consulting · CaliforniaCallDirections
Gunay Law, P.C.Legal & Consulting · New YorkCallDirections
Akin & Salaman Law Group PLLCLegal & Consulting · New YorkCallDirections
Prepare the FBAR
- Check whether you are a U.S. citizen or tax resident, whether the total account value exceeds $10,000, and whether you have a financial interest or signature authority.
- Determine the highest value of each account during the year using periodic account statements.
- Convert the values to dollars using the U.S. Treasury exchange rate published for December 31, the year-end date.
- File the FBAR through FinCEN’s BSA E-Filing system; individuals may report their own accounts without registering.
- Complete and submit the form, and keep the submission confirmation.
- Keep records containing the account name and number, bank name and address, account type, and highest value during the year.
If you are late
- If the IRS has not contacted you and there is no examination or investigation, file the late FBARs and explain the reason for the delay.
- Consider the streamlined compliance procedure if the failure was non-willful, and the voluntary disclosure practice if willful neglect may be involved.
- Because the distinction between willful and non-willful failure affects the penalty and correction method, consult a tax attorney or professional.
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Businesses come from the site’s Businesses section; they are not recommendations of the guide. This content is general information, not legal advice.