Date: October 14th , 2025

Time: 1pm ET | 12pm CT | 11am MT | 10am PT

Duration: 120 Minutes

Description:

Navigating the requirements for disclosing foreign financial assets can be overwhelming—especially for U.S. taxpayers living abroad or those with international investments. Two of the most commonly misunderstood forms are FBAR (FinCEN Form 114) and Form 8938 (FATCA). While both are aimed at reporting foreign financial interests, they differ in purpose, thresholds, filing requirements, and oversight agencies.

Understanding these differences is critical to maintaining compliance with both the IRS and FinCEN—and avoiding costly penalties.

This session explores the latest challenges in foreign financial reporting, including the impact of Outbound Base-Broadening Provisions (OBBB) and their implications for globally active individuals and businesses. We’ll break down what needs to be reported, who is exempt, and what’s at stake if you fail to comply.

But that’s just the beginning. We’ll also touch on other key international reporting forms—Forms 3520, 5471, 8621, 8865, 8891, 926, 5472, 8300, and 8854—to give you a comprehensive overview of today’s global tax compliance landscape.

Learning Objectives

• Step-by-step guidance on filing FBAR (FinCEN Form 114) electronically
• Common FBAR mistakes and how to avoid them to reduce penalty risk
• How the IRS detects foreign income and unreported assets
• FBAR vs. Form 8938 (FATCA): Key differences in filing thresholds and reportable accounts
• What qualifies as a foreign account vs. foreign asset
• Recordkeeping requirements for both FBAR and Form 8938
• Filing deadlines and extension rules for FBAR
• Exemptions and exceptions under FATCA and FBAR rules
• Streamlined filing procedures for delinquent filers
• Strategies for achieving compliance and avoiding IRS enforcement actions

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Update
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 120 Minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Laura M. Tshilumba, CPA, is the owner and managing partner of Your Expat Tax CPA, LLC, where she brings over 20 years of experience in U.S. international taxation to help clients navigate complex cross-border tax regulations with clarity and confidence. Laura’s expertise spans global mobility, expatriation tax, tax equalization, tax clauses in global assignment contracts, UN employee taxation, mergers & acquisitions, cross-border compliance, FIRPTA, treaty analysis, delinquent foreign disclosures, and IRS controversy resolution.

Laura has built strategic partnerships with immigration lawyers, tax attorneys, real estate professionals, expat organizations, and relocation firms to provide clients with tax-efficient entries into the U.S. and graceful exits from the U.S., removing the stress of tax complexities during major transitions. She is also a Certifying Acceptance Agent (CAA), helping foreign nationals navigate U.S. tax requirements with ease.