Do you report crypto on an FBAR?

As of October 2026, US persons generally do not report a foreign account on the FBAR if it holds only crypto. FinCEN, the Treasury bureau that runs the FBAR, said so in Notice 2020-2, while also saying it plans to change the rules to include virtual currency. Accounts that hold crypto alongside other assets, and Form 8938, follow different rules. The general US tax treatment of crypto is in how crypto is taxed in the US.

What is the FBAR crypto rule today?

The FBAR, or FinCEN Form 114, covers foreign financial accounts. The IRS says US citizens, residents and entities must file if the combined value of their foreign accounts was over $10,000 at any time in the year. It is filed electronically with FinCEN, not with the tax return, and is due April 15 with an automatic extension to October 15.

FinCEN's Notice 2020-2, published on December 30, 2020, says current FBAR regulations do not list virtual currency accounts as a reportable type. A foreign account holding only crypto is therefore not reportable for now. The notice adds that an account holding other reportable assets as well, such as cash, can still be reportable for those assets.

Will crypto have to go on the FBAR?

Possibly. In the same notice FinCEN said it intends to propose amending the regulations to add virtual currency as a reportable account type. A practitioner guide updated in September 2026 says that change was still outstanding for the 2026 filing season. Earlier, in 2014, an IRS staff member said bitcoin was not reportable on the FBAR "at this time."

Is a crypto wallet reportable on the FBAR?

FinCEN's notice is about foreign accounts holding crypto, such as an account at an exchange based abroad, and it does not address self-custody wallets. The difference between those two set-ups is explained in custodial vs non-custodial wallets. For a mixed account, any fiat or securities balance can still count toward the $10,000 total.

What is the difference between FBAR and FATCA for crypto?

Form 8938 comes from FATCA, the Foreign Account Tax Compliance Act. The IRS lists these key differences:

• Where filed. Form 8938 is attached to the income tax return. The FBAR goes to FinCEN.
• Thresholds. For a single filer living in the US, Form 8938 applies above $50,000 at year end or $75,000 at any time. Thresholds are higher for married couples and people living abroad.
• Penalties. Form 8938 failures can cost up to $10,000, rising to a maximum of $60,000 after an IRS notice.

The Form 8938 instructions, last revised in November 2021, do not mention digital assets. They define a financial account as a depository or custodial account at a foreign financial institution, and exclude accounts at US institutions. Whether a foreign crypto account fits that definition is not spelled out by the IRS. For other crypto forms, see crypto tax forms.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.