Why a spot-rate converter gets your FBAR wrong
FinCEN asks for the Treasury Reporting Rate of Exchange for December 31, rounded up. Search-engine converters use today's market rate.
| Fbartally | Generic currency converter | |
|---|---|---|
| Rate | Treasury Reporting Rate of Exchange for the year's last day | Today's market rate |
| Rounding | Rounded up to the next whole dollar, as instructed | Cents |
| Many accounts | Reads a whole statement list, keeps the maximum per account and totals them | One amount at a time |
| Price | Free: the $10,000 FBAR test, the Form 8938 check and every flag. Pro: $7 for 7 days, $9/month or $49/year. | Free |
Honest take: for one account a converter and the Treasury table are enough. Fbartally saves time when you have several accounts and many statements.
Competitor details checked on 2026-10-29 from their public pages: Treasury Reporting Rates of Exchange, FinCEN — BSA E-Filing System (Form 114). Prices change — check their site for the current offer. Product names are trademarks of their owners; we are not affiliated with them.
FAQ
Is my data uploaded?
No. Your files are read by JavaScript in your browser tab and never sent to us or anyone else. Balances aren't stored, so closing the tab clears them. Settings can be saved in this browser if you ask.
What does Fbartally do?
It reads a list of your foreign account balances, takes the highest balance in the calendar year for each account, converts it to US dollars at the Treasury Reporting Rate of Exchange for December 31, rounds up to the next whole dollar, adds the accounts up and tells you whether the total is over the $10,000 FBAR threshold.
Who has to file an FBAR?
A U.S. person — a citizen, resident (including green-card holders), or a U.S. company, trust or estate — with a financial interest in or signature authority over foreign financial accounts whose maximum values add up to more than $10,000 at any time in the calendar year. It is filed with FinCEN (Form 114), not with your tax return.
Which exchange rate is used?
FinCEN's instructions say to use the Treasury Reporting Rate of Exchange for the last day of the calendar year. Fbartally includes the official 2025-12-31 rates. For 2026 it uses the September 30, 2026 rates as a provisional estimate until the December 31 rates are published; you can also put your own rate in a column.
What about joint accounts?
Each owner reports the full value of a jointly owned account. A spouse may be included on the other spouse's FBAR with Form 114a if all of the spouse's accounts are jointly owned with the filer.
What's free?
Importing any number of balances, the $10,000 test, the Form 8938 check, every flag, 3 rate what-ifs, 3 accounts and 12 statement rows on screen and in print (with a footer). Pro shows everything and adds the Excel workbook and CSV exports.
What isn't covered?
Filing itself (you file on FinCEN's BSA E-Filing System), Form 8938's full value and exception rules, the 25-or-more-accounts and signature-authority shortcuts, valuing pensions or insurance that have no statement balance, and penalties or late-filing relief.
Is this tax or filing advice?
No. Fbartally applies the rules it describes to the balances you provide. It is a worksheet to prepare with — check FinCEN's instructions or a tax professional before you file. It is not affiliated with FinCEN, the IRS or the U.S. Treasury.