Bank Statement for Streamlined Filing Compliance

The IRS Streamlined Filing Compliance Procedures let taxpayers who non-willfully failed to report foreign accounts catch up without the harshest penalties. The submission requires amended returns, delinquent FBARs, and a certification of non-willfulness — all built on foreign bank statements documenting the account balances and activity. This guide covers what to gather.

Key Benefits

• Documents foreign account balances for the delinquent FBAR filings
• Supports the amended returns reporting previously omitted foreign income
• Provides the account history behind your non-willfulness certification
• Helps calculate the streamlined penalty on the highest aggregate balance

How It Works

1. Step 1: Download statements for every foreign account for each year in the streamlined period
2. Step 2: Convert them to Excel with Bank Statement Converter to organize balances and income by year
3. Step 3: Note the highest year-end and peak balances for the FBAR and penalty calculation
4. Step 4: Provide the full package to a tax professional handling your streamlined submission

Frequently Asked Questions

What are the Streamlined Filing Compliance Procedures?

An IRS program letting taxpayers who non-willfully failed to report foreign accounts and income file amended returns and delinquent FBARs with reduced (or, for those abroad, waived) penalties.

How many years of bank statements does streamlined filing require?

Generally the most recent three years of amended returns and six years of FBARs — meaning six years of foreign bank statements to document balances and income.

What does non-willful mean for streamlined filing?

That your failure to report resulted from negligence, inadvertence, or a good-faith misunderstanding — not intentional evasion. Your certification must explain this, and bank statements support the timeline.

Is streamlined filing the same as OVDP?

No — the Offshore Voluntary Disclosure Program is for willful conduct with higher penalties. Streamlined is specifically for non-willful taxpayers and is far less costly.

Convert Your Streamlined Filing Statements