US tax season checklist for expats 2027: FBAR, FATCA, and key deadlines

The 2027 US tax season brings critical deadlines for Americans abroad, including FBAR filing requirements and FATCA compliance. This checklist helps you organize all necessary documents and avoid penalties for late or incomplete filings. Use Foco to track each step, set deadline reminders, and prioritize tasks efficiently.

Even if you live outside the US, you must report worldwide income if you exceed minimum thresholds. Additionally, FBAR (Foreign Bank Account Report) and FATCA (Foreign Account Tax Compliance Act) require reporting foreign financial accounts if their combined balance exceeds certain limits. This list covers everything you need to comply with the IRS and avoid surprises.

How to use this checklist in Foco

Import this template into Foco and assign each task to key dates (like April 15 or October 15 for extensions). Use Panorama view to see all tax tasks alongside other projects, or Foco mode to concentrate solely on this work. Set automatic reminders for critical deadlines and attach scanned documents as notes to each task.

• Gather US income forms (W-2, 1099, and other income statements for tax year 2026)
• Collect records of foreign income (pay stubs, contracts, bank statements)
• Obtain Form 1042-S if you received US-sourced income subject to withholding
• Check eligibility for the Foreign Earned Income Exclusion (Form 2555)
• Calculate the Foreign Tax Credit (Form 1116) if you paid taxes in another country
• Review FBAR filing requirements (FinCEN Form 114) if combined foreign account balances exceeded $10,000 at any time in 2026
• Compile details of all foreign bank accounts (account numbers, bank names, maximum annual balances)
• Determine if you must file Form 8938 (FATCA) based on foreign asset thresholds (varies by filing status and residency)
• Prepare documentation for foreign real estate (market value, purchase dates, rental income)
• Review cryptocurrency transactions (Form 8949 if you sold or exchanged virtual currency)
• Verify eligibility for the automatic 2-month extension (June 15, 2027) or request an additional extension until October 15
• Consult a tax professional specializing in expat taxes if you have questions about tax treaties or deductions
• File Form 1040 with all required schedules before the deadline (April 15 or June 15 with automatic extension)
• Submit FBAR electronically via the BSA E-Filing system by April 15, 2027 (no extension available)
• Save digital copies of all filed forms and supporting documents for at least 6 years
• Check if you need to file state tax returns (some states like California or Virginia tax expat residents)
• Pay any taxes owed by the deadline to avoid interest and penalties (even with an extension)
• Review eligibility for the Streamlined Filing Compliance Procedures if you missed prior-year filings