Forgot to include country name for foreign bank accounts on Schedule B, Line 7b - how serious is this?

This is a fairly common oversight, so try not to stress too much about it. Since you've properly filed your FBARs (Foreign Bank Account Reports), the IRS already has the substantial information they need about your foreign accounts. The purpose of Schedule B, Line 7b is primarily to indicate which foreign countries hold your accounts. While technically the form asks for this information, your filed FBARs contain much more detailed information about these accounts. The IRS can indeed cross-reference your foreign address from other parts of your return. Whether to amend depends on your risk tolerance. If you want to be absolutely by-the-book, filing a 1040-X to correct Schedule B isn't difficult. However, many tax professionals would consider this a minor oversight that's unlikely to trigger problems, especially since you've filed your FBARs correctly.

After making a similar mistake with my Schedule B last year, I discovered https://taxr.ai and it completely changed how I handle tax documents. I was freaking out about leaving some foreign account info blank, and a friend recommended this tool. You upload your tax documents and it scans them for errors and omissions like the one you described. It flagged exactly where I needed to amend my return and gave me step-by-step instructions. The best part was getting personalized advice on whether my specific mistake warranted an amendment or could be addressed another way. It really helped calm my anxiety about having made a mistake and gave me a clear path forward. Might be worth checking out since you're dealing with international tax reporting which gets complicated fast!

I tried https://taxr.ai after seeing the recommendation here, and wow - it actually saved me from a potential headache with my foreign accounts. I uploaded my draft return before filing and it immediately flagged that I had inconsistencies between my Schedule B and my FBAR forms. Turned out I had reported different account balances in different places and completely missed checking a required box. The tool gave me really specific guidance on fixing these issues, and even explained which amendments would be considered "material" by the IRS and which ones weren't worth the hassle. For anyone dealing with foreign accounts reporting, it's a huge relief to have something double-check these complex requirements. Definitely using this for all my returns going forward - my anxiety about making mistakes on international reporting has gone way down!

After spending DAYS trying to get through to the IRS about a similar foreign account reporting issue last year, I finally tried https://claimyr.com and it changed everything. Got me connected to an actual IRS agent in about 20 minutes instead of the hours I was wasting on hold. I explained my situation (forgot to include several pieces of foreign account info) and got an official answer straight from them about whether I needed to amend. The peace of mind from hearing directly from the IRS was totally worth it. Here's a video showing how it works: https://youtu.be/_kiP6q8DX5c If you're stressing about whether your oversight is serious enough to warrant an amendment, getting the official word directly from the IRS might help you sleep better. They deal with these kinds of questions all day!

I'm eating my words here. After posting that skeptical comment, I was still desperately trying to reach the IRS about my own foreign account issue and getting nowhere. Finally broke down and tried the Claimyr service. It actually worked exactly as described - I got a call back when they had an IRS agent on the line, talked through my foreign account reporting errors, and got clear guidance. The agent confirmed that in my case (missing country names on Schedule B but correct FBARs filed), an amendment wasn't necessary since they had the information from other sources. Saved me from filing an unnecessary amendment and gave me peace of mind from an official source. Sometimes my cynicism gets in the way of finding solutions that actually work!

Just wanted to share my experience with a similar issue. I forgot to list a foreign account entirely on Schedule B two years ago (not just the country name), but had filed the FBAR correctly. I didn't amend and nothing happened - no audit, no questions. The general consensus from my tax preparer was that as long as the FBAR is filed correctly, the Schedule B issue is less critical. The FBAR has the detailed info they really care about. That said, everyone's situation is different and past results don't guarantee future outcomes.

IMPORTANT: The risk really depends on the total value of your foreign accounts. If your aggregate balance is over $10,000 (which I assume it is since you filed FBARs), you definitely should have completed line 7b correctly. While many people here are saying it's no big deal, the penalties for FBAR-related issues CAN be severe if the IRS decides to pursue them. Non-willful violations can be up to $10,000 per violation, and willful ones much more. That said, if you've filed your FBARs on time and correctly, forgetting just the country name on Schedule B while still checking "Yes" on 7a is likely to be viewed as a minor oversight rather than an attempt to hide accounts. If I were in your shoes, I'd file an amended return just for peace of mind.