If you had $10,000+ combined in your Ecuadorian bank accounts at any point in 2025, you’re required to file an FBAR by April 15, 2026.

The penalty for not filing? $10,000 per violation. Per year. Even if it was an honest mistake.

I’m Chip Moreno, an American tax professional living here in Ecuador. I’ve seen too many expats get hit with these penalties because they didn’t know the rules or kept putting it off.

Here’s what most people don’t realize:

It’s not just your checking account. Investment accounts, business accounts, signature authority on company accounts — they all count toward that $10,000 threshold.

The IRS gets your information automatically now through FATCA. Banks worldwide report US account holders. They already know.

If you’re behind on filings:

There’s a program called Streamlined Filing Compliance that lets you catch up without criminal penalties — but only if you file before the IRS contacts you. Once they send a letter, that option is gone.

What happens next:

I’m taking on new clients for the 2024 tax year right now. First consultation is free — we’ll figure out exactly what you need to file, what you might owe (or get back), and what it’ll cost. No surprises.

Tax season fills up fast. If you’ve been putting this off, now’s the time.

— Chip

P.S. — If you’re thinking “I’ll deal with this later,” remember: the penalty for unfiled FBAR starts at $10,000. A properly filed return typically costs a fraction of that. Do the math.

Christopher,

WhatsApp: +593 096 284 8410,

Website: fileabroad.com

Address: Cuenca, Azuay, Ecuador