Wealth without Borders
The purpose of this quarterly newsletter is to share cross-border wealth management news and insights with our cross border clients and colleagues.
Without any notice or official press release, the IRS removed its public webpage for the Delinquent FBAR Submission Procedures (DFSP) on July 1, 2026, ending the administrative path that allowed taxpayers to file late Foreign Bank Account Reports (FBARs) without penalties. While the statutory framework governing FBAR filing obligations and penalties remains unchanged, the removal of this administrative procedure creates uncertainty for taxpayers seeking to correct historical non-compliance...Canada is the first 'settler nation' to allow applicants to attain citizenship by descent and is the only nation that allows citizenship by descent without a firm start date or set of circumstances such as belonging to a specific persecuted group.
