{"id":1140,"date":"2023-09-16T21:45:00","date_gmt":"2023-09-16T21:45:00","guid":{"rendered":"https:\/\/www.torontotaxconsulting.com\/home\/?page_id=1140"},"modified":"2023-09-16T21:49:11","modified_gmt":"2023-09-16T21:49:11","slug":"streamlined-foreign-offshore-procedures-sfop","status":"publish","type":"page","link":"https:\/\/torontotaxconsulting.com\/home\/streamlined-foreign-offshore-procedures-sfop\/","title":{"rendered":"Streamlined Foreign Offshore Procedures (SFOP)"},"content":{"rendered":"\n<h1 id='streamlined-foreign-offshore-procedures-sfop'  id=\"boomdevs_1\" class=\"has-medium-font-size wp-block-heading\"><strong>Streamlined Foreign Offshore Procedures (SFOP)<\/strong><\/h1>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Streamlined Foreign Offshore Procedures (SFOP): A Guide to Rectifying Expat Taxes<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Are you a U.S. expatriate or an accidental American who has recently discovered the obligation to file U.S. Tax Returns for all those years spent working and living abroad? Don&#8217;t fret; we&#8217;re here to help you navigate the process of catching up on your U.S. expat taxes without undue stress.<\/p>\n\n\n\n<h2 id='understanding-streamlined-foreign-offshore-procedures-sfop'  id=\"boomdevs_2\" class=\"has-medium-font-size wp-block-heading\"><strong>Understanding Streamlined Foreign Offshore Procedures (SFOP)<\/strong><\/h2>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">The IRS has established a unique amnesty program, the Streamlined Foreign Offshore Procedures (SFOP), tailored specifically for expatriates and accidental Americans seeking to become compliant with their U.S. tax obligations and other reporting requirements.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">The SFOP is exclusively available to taxpayers who are non-residents of the U.S. and whose non-compliance is deemed non-willful, as further elaborated below. Under this program, eligible individuals are exempt from failure-to-file and failure-to-pay penalties, accuracy-related penalties, information return penalties, or FBAR penalties. Even in the event that your SFOP-filed returns are audited by the IRS, these penalties will not apply, unless the IRS can demonstrate willful non-compliance and FBAR violations.<\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"335\" height=\"150\" loading=\"lazy\" src=\"https:\/\/i0.wp.com\/www.torontotaxconsulting.com\/home\/wp-content\/uploads\/2023\/09\/Toronto-Tax-Consulting-Streamlined-Foreign-Offshore-Procedures.jpeg?resize=335%2C150&#038;ssl=1\" alt=\"Toronto Tax Consulting - Streamlined Foreign Offshore Procedures (SFOP)\" class=\"wp-image-1141\" srcset=\"https:\/\/i0.wp.com\/torontotaxconsulting.com\/home\/wp-content\/uploads\/2023\/09\/Toronto-Tax-Consulting-Streamlined-Foreign-Offshore-Procedures.jpeg?w=335&amp;ssl=1 335w, https:\/\/i0.wp.com\/torontotaxconsulting.com\/home\/wp-content\/uploads\/2023\/09\/Toronto-Tax-Consulting-Streamlined-Foreign-Offshore-Procedures.jpeg?resize=300%2C134&amp;ssl=1 300w\" sizes=\"auto, (max-width: 335px) 100vw, 335px\" \/><figcaption>Toronto Tax Consulting &#8211; Streamlined Foreign Offshore Procedures<\/figcaption><\/figure>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id='what-s-required-for-streamlined-foreign-offshore-procedures-sfop-filing'  id=\"boomdevs_3\" class=\"has-medium-font-size wp-block-heading\"><strong>What&#8217;s Required for <strong>Streamlined Foreign Offshore Procedures (SFOP)<\/strong> Filing?<\/strong><\/h2>\n\n\n\n<ul class=\"has-medium-font-size wp-block-list\"><li>Your most recent three delinquent tax returns<\/li><li>Under the SFOP, you must file tax returns for the last three years whose due date has not yet passed. If a tax return is not yet due, for instance, for the tax year 2021, it cannot be part of your SFOP submission. In this case, tax returns for the years 2020 to 2018 will comprise your SFOP filing.<\/li><li>The last six delinquent Form 114 (FBAR)<\/li><li>In addition to your tax returns, you are also required to file Form 114 Fincen (FBAR) for the last six years. Importantly, even for years when your assets didn&#8217;t meet the $10,000 threshold, you must still file Form 114 under the SFOP.<\/li><li>Submission of Form 14653<\/li><li>Lastly, you must provide certification that your non-compliance was not willful. This certification is made through Form 14653.<\/li><\/ul>\n\n\n\n<h2 id='am-i-eligible-for-streamlined-foreign-offshore-procedures'  id=\"boomdevs_4\" class=\"has-medium-font-size wp-block-heading\"><strong>Am I Eligible for Streamlined Foreign Offshore Procedures?<\/strong><\/h2>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">To qualify for this procedure, you must meet two stringent criteria:<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Non-Residency Requirement<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">You must be considered a &#8220;foreign resident,&#8221; meaning U.S. expats and accidental Americans must adhere to the 330-day rule to meet this criterion:<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">&#8220;Individual U.S. citizens meet the non-residency requirement if they have not been a resident of the U.S. and have been physically present outside the U.S. for at least 330 full days in one or more of the last 3 years for which the due date of the U.S. tax return (or the properly requested extended due date) has passed.&#8221;<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">In essence, this requirement necessitates that you haven&#8217;t been a U.S. resident for the past three years and have physically resided outside the U.S. for a minimum of 330 days per year. If filing jointly, both spouses must individually meet this non-residency requirement.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Non-Willful Conduct<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">To be eligible for SFOP, your conduct must be determined as non-willful. Non-willful conduct comprises negligence, inadvertence, or mistakes, or actions resulting from a genuine misunderstanding of legal requirements.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">For instance, if you genuinely did not know you were required to file U.S. tax returns, this can be considered non-willful conduct.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Failure to satisfy both of these conditions renders you ineligible for SFOP filing.<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id='locations-for-streamlined-foreign-offshore-procedures'  id=\"boomdevs_5\" class=\"has-medium-font-size wp-block-heading\"><strong>Locations for Streamlined Foreign Offshore Procedures<\/strong><\/h2>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Downtown Toronto<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"https:\/\/www.torontotaxconsulting.com\/home\/\" title=\"\">Toronto Tax Consulting (Head Office)<\/a><br>401 Bay Street Suite 1600<br>Toronto ON M5H 2Y4<br>Tel: 416-628-7824 Ext.2<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Downtown Toronto<\/strong> <strong>(Evening &amp; Weekend)<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>1 Dundas St W Suite 2500<br>Toronto  ON M5G 1Z3<br>Tel: 647-951-4852 Ext.2<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Downtown Toronto<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"https:\/\/internationaltaxadvisortoronto.com\/\" target=\"_blank\" rel=\"noopener\">International Tax Advisor Office<\/a><a href=\"https:\/\/www.torontotaxconsulting.com\/home\/the-east-mall-and-burhamthorpe-etobicoke-location\/\"><br><\/a>161 Bay St.  27th Floor <br>Toronto  ON M5J 2S1<br>Tel: 1-800-693-5950<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Etobicoke<\/strong>, <strong>ON<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"https:\/\/www.torontotaxconsulting.com\/home\/bloor-and-islington-etobicoke-tax-consulting-3250-bloor-st-west-suite-600\/\">Etobicoke Tax Consulting<\/a><a href=\"https:\/\/www.torontotaxconsulting.com\/home\/the-east-mall-and-burhamthorpe-etobicoke-location\/\"><br><\/a>3250 Bloor St W Suite 600 East Tower <br>Etobicoke ON M8X 2X9<br>Tel: 1-800-717-4162 Ext.2<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>North York, ON<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"http:\/\/www.northyorktaxconsulting.com\" target=\"_blank\" rel=\"noopener\">North York Tax Consulting<\/a><br>4711 Yonge St  10th Floor<br>Toronto  ON  M2N 6K8<br>Tel: 416-628-7824<\/p>\n\n\n\n<div style=\"height:11px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Mississauga, ON<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"http:\/\/www.mississaugataxconsulting.com\" target=\"_blank\" rel=\"noopener\">Mississauga Tax Consulting<\/a><br>4 Robert Speck Parkway Suite 1500<br>Mississauga ON L4Z 1S1<br>Tel: 1-888-905-7577<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Oakville, ON<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>2010 Winston Park Dr Suite 200, <br>Oakville ON L6H 5R7<br>Tel: 1-888-905-7577<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Markham, ON<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"https:\/\/www.torontotaxconsulting.com\/home\">Markham Tax Consulting<\/a><br>15 Allstate Parkway Suite 600<br>Markham ON L3R 5B4<br>Tel: 416-628-7824<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>New York, NY<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>100 Park Avenue #1600<br>New York  NY 10017, United States<br>Tel:  646-995-5187<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Chicago, IL<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>30 S Wacker Dr #2200<br>Chicago  IL 60606, United States<br>Tel: 1-800-717-4162<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Washington, DC<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>1200 G St NW Suite 800<br>Washington, DC  20005, United States<br>Tel: 1-800-693-5950<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Pasadena, CA<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>Century Square, 155 N Lake Ave Suite 800<br>Pasadena, CA  91101, United States<br>Tel: 1-800-693-5950<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Miami , FL<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>201 South Biscayne Boulevard<br>Miami, FL  33131, United States<br>Tel: 1-800-693-5950<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>London, UK<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Toronto Tax Consulting<br>37 Floor, Canary Wharf, 1 Canada Square<br>London E14 5AA, United Kingdom<br>Tel:&nbsp;&nbsp;+44 20 3885 6292&nbsp;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id='call-a-u-s-tax-advisor-for-streamlined-foreign-offshore-procedures-in-toronto-today'  id=\"boomdevs_6\" class=\"has-text-align-center has-medium-font-size wp-block-heading\" id=\"call-an-international-tax-advisor-for-international-tax-advice-and-planning-in-toronto\"><strong>Call a U.S. Tax advisor for Streamlined Foreign Offshore Procedures in Toronto<\/strong>&nbsp;<strong>today!<\/strong><\/h2>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">It is best to give a U.S. tax advisor a call to discuss your unique situation. We may be able to help. Please call 416-628-7824 and Press Extension 2. If someone does not answer live, U.S. tax advisors are not always available. We do encourage you to leave a message with the best time to call back.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.canada.ca\/en\/revenue-agency.html\" target=\"_blank\" rel=\"noopener\">CRA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Streamlined Foreign Offshore Procedures (SFOP) Streamlined Foreign Offshore Procedures (SFOP): A Guide to Rectifying Expat Taxes Are you a U.S. expatriate or an accidental American who has recently discovered the obligation to file U.S. Tax Returns for all those years spent working and living abroad? Don&#8217;t fret; we&#8217;re here to help you navigate the process [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"templates\/page-full.php","meta":{"nf_dc_page":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1140","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages\/1140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/comments?post=1140"}],"version-history":[{"count":9,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages\/1140\/revisions"}],"predecessor-version":[{"id":1151,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages\/1140\/revisions\/1151"}],"wp:attachment":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/media?parent=1140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/categories?post=1140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/tags?post=1140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}