FBAR Direct prepares and files your FBAR (FinCEN Form 114) on your behalf. You are responsible for reviewing all information for accuracy before submission to FinCEN. This article is for informational purposes only and does not constitute tax, legal, or financial advice. When you file an FBAR you report your foreign bank and financial accounts to the Financial Crimes Enforcement Network.

FBAR France Bank Accounts: Reporting Livret A, PEA, and Assurance Vie

If you are a US person with bank accounts in France, you likely need to file an FBAR. The Report of Foreign Bank and Financial Accounts — FinCEN Form 114 — applies to every US citizen, green card holder, and tax resident. You must file if your foreign financial accounts exceed $10,000 in aggregate value at any point during the calendar year. France has many account types that Americans living abroad and dual citizens commonly hold. These range from the Livret A savings account to PEA investment plans, PEL housing savings, assurance vie policies, and PERP or PER retirement accounts. Each of these accounts is reportable on the FBAR.

Which FBAR France Bank Accounts Must You Report?

Under 31 CFR 1010.350(c), any account at a financial institution outside the United States qualifies as a foreign financial account. Specifically, the FBAR reporting requirement does not depend on the type of account. It does not matter whether the account earns income or whether France treats it as tax-exempt. If you have a financial interest in or signature authority over accounts held in France, you must report them on your FBAR. In other words, you don't need the accounts to generate income — the FBAR covers all foreign bank and financial accounts that exceed the $10,000 aggregate threshold.

Livret A and Regulated Savings Accounts

The Livret A is the most popular savings account in France. Nearly every French bank — BNP Paribas, Societe Generale, Credit Agricole, Banque Populaire — offers one. The Livret A has a cap of 22,950 euros and earns tax-free interest in France. However, the tax-free status does not exempt this bank account from FBAR filing. You must report a Livret A on your FBAR if your aggregate foreign accounts exceed $10,000.

Additionally, other regulated savings products follow the same rule. The LDDS (Livret de Developpement Durable et Solidaire), the LEP (Livret d'Epargne Populaire), and the CEL (Compte Epargne Logement) all need to be reported. Even if the interest is exempt from French taxes, FinCEN still requires you to report the account. These accounts are among the most common foreign bank account types that Americans in France overlook on their FBAR.

PEA and Brokerage Accounts

The Plan d'Epargne en Actions (PEA) is a French investment wrapper that holds European equities. It offers favorable French tax treatment after five years. A PEA held at a French bank or brokerage counts as a foreign financial account. You must report the maximum value of your PEA on the FBAR. Include both the cash component and the market value of securities.

A compte titres ordinaire — a standard French brokerage account — also needs to go on your FBAR. For example, this applies whether you hold stocks, bonds, mutual funds (OPCVM/SICAV), or ETFs. The FBAR covers foreign bank accounts, brokerage accounts, and retirement accounts at foreign institutions. See how to calculate maximum account value for FBAR for guidance on valuing investment accounts.

Assurance Vie

Assurance vie is the cornerstone of French financial planning. It works as a life insurance policy with a cash value component. It combines investment and succession planning. Under FinCEN instructions, foreign insurance policies with a cash surrender value count as foreign financial accounts. You must report the cash value of your assurance vie contract on the FBAR. This applies whether AXA, Generali, CNP Assurances, or any other French insurer holds the contract. For more details, see FBAR foreign pension and retirement accounts.

PERP, PER, and French Retirement Accounts

You must report French retirement accounts on the FBAR. The Plan d'Epargne Retraite Populaire (PERP) and the newer Plan d'Epargne Retraite (PER) — introduced in 2019 under the Loi PACTE — are both foreign financial accounts for FBAR purposes. The same rule applies to employer plans like the PERCO (Plan d'Epargne pour la Retraite Collectif) and Article 83 contracts. These accounts must go on your FBAR if your aggregate foreign account value exceeds $10,000.

Therefore, the France-US tax treaty does not exempt these accounts from FBAR reporting. A treaty may reduce your income tax on distributions. But it does not eliminate FinCEN filing requirements. FinCEN operates under the Bank Secrecy Act (BSA), which is separate from the Internal Revenue Code and any bilateral tax treaty.

French Account Types and FBAR Reporting

Account Type	French Name	Reportable?	Notes
Savings account (tax-free)	Livret A	Yes	Tax-free status in France does not exempt
Sustainable savings	LDDS	Yes	Regulated savings, same rule
Housing savings plan	PEL	Yes	Plan Epargne Logement
Stock investment plan	PEA	Yes	Include cash + securities value
Standard brokerage	Compte titres	Yes	Stocks, bonds, mutual funds, ETFs
Life insurance	Assurance vie	Yes	Report cash surrender value
Retirement plan	PERP / PER	Yes	Treaty does not exempt from FBAR
Employer retirement	PERCO / Article 83	Yes	Employer-sponsored plans
Current account	Compte courant	Yes	Checking account at any French bank
US domestic accounts	N/A	No	Not reportable on FBAR

How to Calculate Maximum Account Value for French Accounts

To file the FBAR, you need to convert the maximum value of each account from euros to US dollars. FinCEN requires you to use the Treasury Department's end-of-year exchange rate for the calendar year you are reporting. You can find these rates on the Treasury Reporting Rates of Exchange page. For detailed help, see FBAR exchange rates and Treasury Department rates.

For each account, find the highest balance during the year — not the year-end balance. Check your monthly statements or online banking records to find the peak value. Then convert that amount to USD using the right Treasury rate.

Worked Example: Sophie's FBAR Filing

Sophie is a US citizen living in Paris. She holds four accounts in France during the 2025 tax year:

Account	Bank	Maximum Balance (EUR)	Treasury Rate (EUR/USD)	Maximum Value (USD)
Compte courant	BNP Paribas	8,200	0.9214	$8,899
Livret A	Credit Agricole	22,950	0.9214	$24,907
PEA	Societe Generale	35,000	0.9214	$37,985
Assurance vie	AXA	62,000	0.9214	$67,280

Sophie's aggregate maximum value is $139,071. This exceeds the $10,000 FBAR threshold, so she must file an FBAR. She reports each account on FinCEN Form 114 with the bank name, account number, account type, and maximum value in USD.

Note: The Treasury rate for euros shows foreign currency units per dollar. To convert EUR to USD, divide the euro amount by the rate. If the December 31 rate is 0.9214 EUR per USD, then 22,950 EUR / 0.9214 = $24,907 USD. Sophie can do this herself or have FBAR Direct handle the conversion.

The France-US Tax Treaty and FBAR Filing

The France-US income tax treaty covers double taxation, pension income, and investment gains. But it does not eliminate the FBAR filing requirement. The FBAR is a Bank Secrecy Act form. You file it with FinCEN under 31 USC 5314, not with the IRS. Treaty provisions that cut your tax bill have no bearing on whether you must file an FBAR.

Some US persons think the treaty exempts French retirement accounts from FBAR reporting. It does not. The FBAR FinCEN Form 114 you file each year is separate from your tax return. The treaty may give favorable tax treatment for PERP or PER distributions. But FinCEN still requires you to report these accounts on your FBAR the same way you report bank accounts.

For US persons who also file Form 8938 (FATCA), the treaty does not change your reporting requirements either. The FBAR and Form 8938 serve different purposes and go to different agencies. See FBAR vs. FATCA Form 8938 differences for a full comparison.

FATCA and CRS: How France Shares Account Information

France signed a Model 1 FATCA Intergovernmental Agreement (IGA) with the United States. Under this deal, French banks — BNP Paribas, Societe Generale, Credit Agricole, and others — report account data for US persons to the DGFiP (Direction Generale des Finances Publiques). The DGFiP then sends this data to the IRS.

In addition, France also takes part in the Common Reporting Standard (CRS). The OECD runs this global exchange of financial account data. Through CRS, French banks share account details on non-resident holders with over 100 countries.

As a result, what does this mean for your FBAR? The IRS already gets data about your French accounts through FATCA. If you don't file an FBAR, you risk the IRS finding the gap on its own. When your tax return omits foreign income, the discrepancy will likely surface. Filing your FBAR on time shows good faith and can help you avoid harsh penalties. Don't wait — the FBAR, the FinCEN Form 114 that covers all your foreign accounts, is due each year by April 15.

FBAR Filing Deadline and How to File for France Bank Accounts

The FBAR deadline is April 15 of the year following the tax year, per 31 CFR 1010.306(c). FinCEN grants an automatic extension to October 15. You don't need to file any form to request this extension — it is automatic.

You file the FBAR through the BSA E-Filing system at FinCEN (the Financial Crimes Enforcement Network). The FBAR is a form that you file separately from your tax returns. It goes to FinCEN, not the IRS. You need the following details for each account:

Account holder information: Full name, Social Security Number or ITIN, date of birth
Bank details: Name of the foreign bank, address, account number
Account type: Deposit, securities, or other
Maximum value: Highest balance during the year in USD, using Treasury exchange rates

If you don't know how to file your FBAR or need help with your first filing, see our FBAR first-time filer guide for step-by-step instructions. Or FBAR Direct can prepare your FinCEN Form 114 on your behalf — we are a FinCEN-registered institution (TCC: PBSA8180) that files directly to FinCEN. The process takes about 15 minutes when you use our service.

What Are the Penalties for Not Filing?

Consequently, FBAR penalties are severe. They apply to all US persons, no matter where they live.

Non-willful penalties: Up to $16,117 per violation per year under 31 USC 5321(a)(5)(B)(i) (2025 inflation-adjusted). Each unreported account per year counts as a separate violation. A US person with four unreported French accounts over two years could face up to $128,936 in penalties for the FBAR alone.

Willful penalties: The greater of $100,000 or 50% of the account balance per year under 31 USC 5321(a)(5)(C).

Criminal penalties: Fines up to $250,000 and up to 5 years in prison under 31 USC 5322.

Nevertheless, the IRS does not reduce penalties for accounts in a treaty country. A Livret A that earns no taxable income in France still triggers FBAR penalties if you don't report it. You can avoid these penalties by filing on time. See FBAR penalties: what happens if you don't file for a complete guide.

What If You Missed Filing Past FBARs?

If you have French bank accounts and didn't know about the FBAR filing requirement, come into compliance before the IRS contacts you. The IRS provides several programs to help you catch up on delinquent FBARs.

IRS Streamlined Filing Compliance Procedures

The IRS Streamlined Filing Compliance Procedures let non-willful taxpayers come into compliance with reduced penalties:

File the last 3 years of delinquent tax returns (if taxes are owed)
File the last 6 years of delinquent FBARs
Pay a 5% offshore penalty on the highest aggregate value (Domestic Streamlined). US persons who qualify under the Foreign Streamlined program pay no penalty
Certify that your failure to file was non-willful

As a result, Americans in France qualify for the Foreign Streamlined program because they reside outside the United States.

Delinquent FBAR Submission Procedures

If your French accounts earned no unreported income and you filed all tax returns correctly, check the Delinquent FBAR Submission Procedures. The IRS may waive penalties for a delinquent FBAR submission when taxes were properly reported on your tax return.

Key Takeaways

All French bank accounts — Livret A, PEA, PEL, assurance vie, PERP/PER, compte titres — must go on the FBAR
Tax-free status in France does not exempt accounts from US FBAR filing requirements
The France-US tax treaty does not eliminate the FBAR reporting obligation
France shares account data with the IRS through FATCA (Model 1 IGA) and CRS via DGFiP
Non-willful penalties reach $16,117 per account per year under 31 USC 5321
Convert EUR to USD using the Treasury Department end-of-year exchange rate
File the FBAR separately from your tax returns through the BSA E-Filing system

Frequently Asked Questions

Do I need to report my Livret A on the FBAR?

Yes. The Livret A is a foreign bank account under 31 CFR 1010.350(c). Even though the Livret A is tax-exempt in France and capped at 22,950 euros, you must report it on the FBAR if your aggregate foreign accounts exceed $10,000 during the calendar year. Tax-free status in France does not change your FBAR filing requirement.

Is my French assurance vie reportable on the FBAR?

Yes. An assurance vie is a life insurance policy with a cash surrender value, which qualifies as a foreign financial account under FinCEN instructions. Report the cash value of your assurance vie on the FBAR. This applies regardless of which French insurer holds the contract.

Does the France-US tax treaty exempt me from filing an FBAR?

No. The FBAR is a Bank Secrecy Act form filed with FinCEN under 31 USC 5314, not an IRS tax form. The France-US tax treaty may reduce your tax obligations on certain income, but it has no effect on your obligation to file an FBAR. Treaty benefits and FBAR requirements are entirely separate.

Do I need to file an FBAR if I only have a small checking account in France?

You need to file an FBAR if the aggregate value of all your foreign financial accounts exceeds $10,000 at any point during the year. Even if your French checking account alone is below $10,000, you must report it if your total across all foreign accounts — including accounts in other countries — crosses the threshold.

How do I convert euros to dollars for the FBAR?

Use the Treasury Department's end-of-year exchange rate published at Treasury Reporting Rates of Exchange. For each account, identify the maximum balance during the year in euros, then convert that amount to USD using the December 31 rate. Do not use the exchange rate from the date of the maximum balance.

Does France report my accounts to the IRS?

Yes. Under the FATCA Model 1 IGA, French financial institutions report account information for US persons to the DGFiP, which transmits the data to the IRS. France also participates in CRS, the OECD's global automatic exchange of financial information. The IRS likely already has information about your French accounts.

What is the FBAR deadline for French accounts?

The FBAR deadline is April 15 of the following year, with an automatic extension to October 15 per 31 CFR 1010.306(c). No form is needed for the extension. You file FinCEN Form 114 through the BSA E-Filing system at FinCEN.gov — it is separate from your tax return filed with the IRS.

Can I file past-due FBARs without penalties?

If you were non-willful and didn't know about filing FBAR forms, the IRS offers the Streamlined Filing Compliance Procedures and the Delinquent FBAR Submission Procedures. When you file an FBAR with FinCEN, you must include all accounts the IRS expects to see. Americans living in France may qualify for the Foreign Streamlined program, which carries no penalty. Consult a qualified tax professional if your accounts exceed $500,000 or you have unreported foreign income.

Let FBAR Direct Handle Your Filing

Filing the FBAR for French accounts means gathering statements from BNP Paribas, Societe Generale, Credit Agricole, or whichever banks hold your accounts. You then convert each maximum balance from euros to dollars using Treasury rates and complete FinCEN Form 114. The process is straightforward but takes time, especially if you hold multiple account types across several banks.

Let FBAR Direct prepare your filing — you review and approve before we submit to FinCEN on your behalf. Upload your French bank statements and we handle the EUR-to-USD conversion, form preparation, and filing. See how it works.

Tax regulations change frequently. Always verify current requirements at IRS.gov or FinCEN.gov. For advice specific to your situation, consult a qualified tax professional. This article is current as of March 16, 2026.