Fixed fees agreed before work starts – 18,000+ clients served
At Legal Quotient Consultants, we manage all your FBAR & FinCEN 114 reporting requirements, from compliance to strategic planning. Our expert team ensures compliance, maximizes deductions, and optimizes your financial strategies so you can focus on growing your business. Affordable FBAR & FinCEN 114 Reporting for Cross-Border & Global Clients with a fixed fee agreed in writing before any work starts. Call the 24-hour helpline on +1 (416) 619-0068, or request a written quote today.
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Stay compliant and optimize your financial processes with our specialized FBAR & FinCEN 114 reporting services.
| Service | Includes | Fee | |
|---|---|---|---|
| Individual Cross-Border Tax | T1 + treaty coordination · Foreign income · Credits | FROM- $349 | Explore More |
| U.S. Tax Returns | 1040 / 1040-NR · State returns · FBAR | FROM- $449 | Explore More |
| Corporate International Tax | T2 + foreign affiliate · T1134 · Repatriation | FROM- $999 | Explore More |
| Transfer Pricing Documentation | Local file · Benchmarking · s.247 compliance | FROM- $2,500 | Explore More |
| Cross-Border Estate & Trust | Terminal returns · U.S. estate tax · Clearance | FROM- $799 | Explore More |
The Report of Foreign Bank and Financial Accounts is filed by US persons — citizens, green-card holders and residents — who have authority over or a financial interest in foreign accounts whose combined highest balances in the year exceed the reporting threshold. It is filed with FinCEN, not the IRS, separately from the tax return, and it reports accounts, not income: a Canadian chequing account, a registered retirement plan, a tax-free savings account, a joint account with a parent, and a corporate account the filer can sign on are all within it.
The penalty regime is what makes it matter. Penalties are assessed per account or per year for non-wilful failures and can reach a share of the account balance for wilful ones, regardless of whether any tax was owed on the accounts. For Americans in Canada who have never filed, the route back is one of the IRS disclosure procedures, chosen on whether the failure was wilful, and the FBARs are filed as part of it rather than quietly on their own.
Are my Canadian RRSP and TFSA reportable on an FBAR? Yes. Both are foreign financial accounts for FBAR purposes, whatever their Canadian tax status, and they count toward the threshold with every other account.
I missed several years of FBARs. Should I just file them now? Not on their own. The IRS has disclosure procedures for exactly this, with reduced or no penalties for non-wilful cases; the FBARs are filed inside the procedure so the late filing is protected.
FBAR & FinCEN 114 Reporting: Legal Quotient Consultants provides fbar & fincen 114 reporting for U.S. persons in Canada and Canadians with U.S. income or property — planned and filed by cross-border specialists, with fixed fees agreed up front and every position explained before anything is submitted.
Send your documents securely through our portal or by email.
We prepare your FBAR & FinCEN 114 reporting return and every supporting schedule.
You review each figure and approve before anything is filed.
We file with the CRA and send you the confirmation of receipt.
| Factor | Legal Quotient Consultants | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Experience | 15+ years, 18,000+ clients | Varies |
| Helpline | 24 hours a day, +1 (416) 619-0068 | Office hours only |
| Where we work | Our offices in India, the USA, Canada and the UAE | One office only |
| CRA audit support | Included | Billed extra |
FBAR is filed with FinCEN once aggregate foreign accounts pass US$10,000 at any moment in the year — and penalties attach per form, so catch-up should be managed, not improvised.
U.S. citizens and green-card holders file U.S. returns wherever they live, so a U.S. person in Canada runs two parallel systems — 1040 plus T1 — sequenced so foreign tax credits absorb the overlap. Engagements are quoted as a fixed fee for a defined scope, and reviews of prior-year filings are included where earlier positions affect the current one.
Covers: The full streamlined submission: the back returns, the account reports for the whole period, and the non-willfulness certification that is the substance of the application.
What moves it up: The number of years and the state of the records. The filings are mechanical; reconstructing account histories and building the chronology is what takes the time.
See this fee pageCovers: Both US foreign-asset reports prepared from one account and asset list, with the different contents each of them requires, and reconciled to the return they accompany.
What moves it up: Accounts you do not think of as yours. Signature authority over an employer's or a relative's account is inside one report and often outside the other, and finding them takes longer than filing them.
See this fee pageCovers: The Canadian foreign property statement built on cost amount, in Canadian dollars, across everything the test reaches — including holdings people assume are excluded.
What moves it up: Missing acquisition records. The statement is tested on cost, so a holding bought fifteen years ago in another currency has to be reconstructed before it can be reported.
See this fee pageProviding tailored FBAR & FinCEN 114 reporting services to ensure compliance and maximize deductions.
Our cross-border tax accountants protect your business with complete federal and provincial tax compliance.
A dedicated team that handles your financials quickly and accurately, at a fixed fee agreed in writing before any work starts.
Dedicated preparation processes built around the countries each client files in.
Documents, questions and signatures in one portal, whichever country you are filing from.
Customized packages designed to grow as your business operations expand.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
Quoted up front, in writing.
Contact UsCA (India), CA (Malaysia)
CA (India)
FCA (India)
CPA (Canada), CPA (USA), CA (India)
CPA (Canada), CA (India)
FBAR & FinCEN 114 Reporting starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you review the deliverable with us before it is filed. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the first call to our 24-hour helpline.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit support works.
Yes. The late-filing penalty is 5% of the balance owing plus 1% of that balance for each full month the return is late, to a maximum of 12 months (CRA, 2025 tax year). Interest is what compounds, daily, on top. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We work with clients wherever they live, from our offices in India, the USA, Canada and the UAE, and your location does not change the price or the service. Browse our coverage by country and region to find yours.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and the points tax authorities scrutinise. See all industries we serve.
Software applies the rules you told it about. It does not ask whether a treaty caps the withholding on that payment, whether the foreign credit was claimed in the right country, whether an information return was due on an account that earned nothing, or whether your related-party pricing is documented. Those are the questions that move the number on a cross-border file.
Our FBAR & FinCEN 114 reporting services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by calling our 24-hour helpline on +1 (416) 619-0068 or sending the form. We will review your files, provide a fixed quote, and start working immediately.
As pension income, gross, with foreign tax available as a credit. Two extra layers catch people out. A treaty position on the pension may need to be taken and disclosed in its own right. And the plan itself can be a reportable foreign financial asset, sometimes with a further reporting regime if it is treated as a foreign trust — obligations keyed to holding the plan, not to drawing from it. Which layers apply depends on the country and the plan type. See the pensions and annuities article.
A bequest is not income, so the receipt itself is not taxed. Reporting is a different matter: a US person who receives large gifts or bequests from a foreign person or estate files an information return for the year, and inheriting a foreign account or an interest in a foreign trust brings the account and asset reports with it. The penalties here attach to the information return, not to tax — which is why people who owed nothing still get letters. See Form 3520.
Still have questions? View our FAQ page or contact us.
A dual citizen was asked by their Canadian bank to confirm US status and realised no reports had ever been filed. We listed every institution the client had dealt with over the period, obtained statements where accounts were still open, and requested archived records where they were not. The work consisted of establishing which years a report had been due, reconstructing the highest balance for each account, and reconciling the result against the income already shown on the tax returns. The engagement produced a complete account schedule and a set of reports filed for the years concerned.
A client with no foreign accounts of their own was named on several company mandates in two countries. Nothing had been reported because the accounts belonged to the employer. We obtained the bank mandates rather than relying on the organisation chart, established which accounts the client could actually operate and from what date, and tested whether the narrow relief for certain officers applied. The engagement produced a written conclusion for each account, reports filed for the years where the relief did not apply, and a short procedure for the employer to notify the client when mandates change.
A married couple held most of their savings jointly and only one of them was a US person. The question was whether those accounts belonged on one report, on both, or on neither. We reviewed the account documentation to establish the interest each spouse held, explained why the whole balance of a joint account is reported rather than a share of it, and set out the election available to couples who both file. The engagement produced a filed report covering the joint accounts, a list of the accounts held solely by the other spouse, and a record of why they were excluded.
An owner ran a business abroad through a company and had drawn on its accounts as though they were personal. The reporting position depended on which accounts were held in the company's name, which in their own, and where the client held authority without ownership. We worked from the bank mandates and the company registers rather than from the bookkeeping. The work included separating the two sets of accounts, establishing the peak balance of each, and noting where a corporate account was also reportable by the owner personally. The engagement produced a filed report and a clean account list for future years.
An executor discovered that the deceased had held accounts in several countries and had been a US person throughout. The records were incomplete and two institutions had closed their branches. We wrote to each institution with the grant of authority, obtained what archived statements remained, and documented the enquiries made where records could not be produced. The work consisted of preparing the outstanding reports on the evidence available and recording the gaps openly rather than estimating around them. The engagement produced filings for the years that could be evidenced and a written note of the limits of the records.
A client had filed reports for several years but had prepared them separately from their tax returns, and the two told different stories. We matched every account on the reports to the interest, dividends and gains shown on the returns, and identified accounts that appeared on one document but not on the other. The work included tracing transfers that had inflated peak balances and explaining why those values were correct even though nothing had been earned. The engagement produced a reconciled schedule linking each account to its income entries, and corrected reports for the years where accounts had been omitted.
Where the income was on the return and only the account report was missed, a narrow route allows late filing with a reason attached. It is open only while no income is unreported and no examination has begun, which is why it is checked first.
Read how this one runsA distribution can be capital in the trust's country and income here, and the reporting attaches to the beneficiary rather than the trustee. The work is characterising the payment before it is received where possible.
Read how this one runsAll case studies — every published engagement in one place.
Strategy and compliance for income, assets and families spread across borders.
Working from anywhere doesn't mean taxed nowhere: residency defaults, employer payroll exposure and treaty relief decide where income actually lands.
Working from another country does not by itself end tax residence in the one you left, and it can start one where you are sitting. Day counts, ties, the employer's own exposure and the treaty tie-breaker all point at the same question, and the year you move is the year it has to be answered on paper.
Where our partners studied — CPA Canada (In-Depth Tax Program), AICPA, the Institute of Chartered Accountants of India and the Malaysian Institute of Accountants.
