Webinar: Coming Out of the Dark: Streamlined Filing Procedures by ALFI

Matt Eddleman walks through the Streamlined Filing Compliance Procedures, covering the Streamlined Foreign Offshore Procedures (SFOP) and Streamlined Domestic Offshore Procedures (SDOP). He'll examine what the IRS looks for in a valid certification, what distinguishes non-willful from willful conduct, and why a false or conclusory certification can create more exposure than the original non-compliance.

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Presenter

Matt Eddleman

Matt Eddleman brings more than two decades of professional experience in tax controversy, accounting, financial planning, and small business management to Frost Law's Tax Compliance team.

About

Learning Level: Basic

Many U.S. taxpayers with foreign financial accounts and unreported offshore income find themselves out of compliance, not through deliberate concealment, but through a lack of awareness of their obligations. For those taxpayers, the IRS Streamlined Filing Compliance Procedures offer a structured, penalty-reduced path back into compliance. But the program is not without complexity, and the stakes of getting it wrong are significant.

Level: Intermediate
Field of Study: Taxes
Delivery Method: Group Internet-Based
Prerequisites: Basic familiarity with U.S. individual income tax compliance; prior exposure to FBAR and foreign account reporting concepts helpful but not required

Agenda

Overview of the Streamlined Filing Compliance Procedures and their origin
Identify eligibility, penalty structure, and track selection of SFOP vs. SDOP
Discuss the non-willfulness standard: definition, examples, and certification requirements
Evaluate step-by-step filing mechanics for both tracks
Determine audit protection, program limitations, and disqualifying conditions
Discuss special situations such as inherited accounts, accidental Americans, joint accounts, and how to avoid common submission errors