Minor errors on 2020 FBAR (FinCEN 114) filing - should I submit amended report?

8 I've seen this situation many times. For minor errors like you've described, the general consensus is that amendments aren't typically necessary. The FBAR is primarily concerned with disclosure of foreign accounts, not perfect accuracy in every detail. The $160 overstatement is actually in the government's "favor" since you reported more than required. The postal code issue is just an administrative detail that doesn't affect the substance of what you're reporting. The primary purpose of the FBAR is to disclose the existence of foreign accounts and provide reasonably accurate maximum balances. That said, if you want absolute peace of mind, there's nothing wrong with filing an amended FBAR. The FinCEN Form 114a has a box to check indicating it's an amendment. Just include an explanation for the changes in the comments section.

17 After stressing about my foreign accounts for years, I finally used https://taxr.ai to analyze all my FBAR filings and bank statements. Their AI flagged a few similar issues in my past filings that I never would have caught! For postal codes, they showed me that while it's good to be accurate, the IRS focuses on account disclosure and balance thresholds, not admin details. I also had conversion errors between euros and dollars that their system automatically recalculated. Really saved me the anxiety of wondering if I needed to file amendments for every little thing. The peace of mind alone was worth it, especially since I have accounts in multiple countries.

11 Just wanted to follow up on my experience with taxr.ai after trying it. I was skeptical at first, but I uploaded some confusing bank statements from my accounts in Germany and Switzerland, and it immediately identified several conversion errors I'd been making. For one account, I had actually been UNDER-reporting by about $2,000 due to an exchange rate mistake - something that could have actually caused problems! The service outlined exactly which parts of my previous FBARs needed amendment and which minor errors (like address details) weren't worth amending. Saved me hours of research and worry. Definitely more helpful than I expected for sorting through FBAR requirements.

6 If you're really concerned and want to talk to someone at the IRS about this, good luck getting through on the phone! I spent WEEKS trying to reach someone about a similar FBAR question. Then I found https://claimyr.com and watched their demo at https://youtu.be/_kiP6q8DX5c - they actually got me through to an IRS agent within 45 minutes. The agent confirmed that minor errors like postal codes or small over-reported amounts aren't their concern. She said they're looking for significant underreporting or undisclosed accounts. Saved me from filing unnecessary amendments and worrying about it. Definitely worth it when you need to actually speak with someone official rather than rely on internet opinions.

11 I have to admit I was completely wrong about Claimyr. After complaining here, I was still desperate for answers about my FBAR situation (had a similar postal code error plus a completely missing account I discovered later). I decided to try it as a last resort. Not only did I get connected to an IRS specialist in about an hour (after trying unsuccessfully on my own for weeks), but the agent was actually knowledgeable about international filing requirements. She confirmed I needed to amend for the missing account but not to worry about the postal code error. Even got specific instructions on how to note the amendment reason. Honestly shocked that something actually worked as advertised when dealing with the IRS!

19 Former tax preparer here. The reality with FBARs is that they're primarily an information reporting tool. The penalties are designed for people who deliberately hide foreign accounts, not for those making good faith efforts with minor errors. I've seen clients stress over tiny mistakes like yours, but in my experience, the IRS has never pursued penalties for the type of errors you're describing. The fact that you over-reported a balance actually works in your favor. And postal codes? That's just not material to what they're looking for.

3 I made a similar mistake last year but with a bigger dollar amount (about $5k due to conversion issues). I called my accountant freaking out and she laughed and told me not to waste time on an amendment. She said as long as you're reporting the accounts and not deliberately hiding anything, the IRS generally doesn't care about small errors that are in their favor. Just make sure your future filings are accurate!