FBAR Direct vs Hiring a CPA
A CPA can file your FBAR as part of a broader tax engagement. But for straightforward FBAR-only filings, the cost difference is significant.
Feature Comparison
| Feature | Hiring a CPA | FBAR Direct |
|---|---|---|
| Price | $200-500+ per FBAR | $59-79 |
| Filing method | CPA files via BSA E-Filing or third-party software | Direct FinCEN submission via BSA E-Filing |
| Tax advice | Yes — integrated with tax return | No — FBAR filing only |
| Audit support | Yes — representation available | No |
| Complex situations | Can handle trusts, entities, signature authority | Individual filings |
| Turnaround | Days to weeks (depends on CPA availability) | Under 10 minutes |
| Currency conversion | CPA handles manually | Automatic with Treasury rates |
When to Hire a CPA
- You have complex FBAR situations (trusts, entities, signature authority over business accounts)
- You need integrated tax planning with your FBAR filing
- You are filing delinquent FBARs and need professional guidance on the Streamlined Filing Compliance Procedures
- You are under IRS examination or audit
- You have FBAR filing obligations for a business entity
When to Use FBAR Direct
- You have a straightforward individual FBAR filing
- You know your foreign account details (institution, account number, max value)
- You want to save $150-400+ compared to CPA fees
- You want to file immediately without scheduling an appointment