What is IRS Letter 6291?

IRS Letter 6291 alerts you to potential noncompliance related to foreign accounts or crypto assets held offshore. It often applies to taxpayers who may have failed to file FBAR (FinCEN 114) or FATCA disclosures, especially when using offshore exchanges or wallets.

Illustration of a white envelope stamped in red: IRS Letter 6291 – Important IRS Notice Enclosed, used for crypto tax guidance.

What is IRS Letter 6291?

Illustration of a white envelope stamped in red: IRS Letter 6291 – Important IRS Notice Enclosed, used for crypto tax guidance.

IRS Letter 6291 alerts you to potential noncompliance related to foreign accounts or crypto assets held offshore. It often applies to taxpayers who may have failed to file FBAR (FinCEN 114) or FATCA disclosures, especially when using offshore exchanges or wallets.

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Why the IRS Sends Letter 6291 for Foreign Crypto Accounts

If you’ve held crypto on foreign platforms (like Bitfinex, KuCoin, or non-U.S. wallets), this letter could be a warning that the IRS has your data.

What to do next:

Vector icon of a globe with crypto symbols and a compliance checklist, representing foreign crypto holdings and FBAR/FATCA filing

1: Review your foreign crypto holdings and whether you’ve filed FBAR/FATCA correctly

Vector icon of an IRS form with a teal shield and arrows, symbolizing eligibility for streamlined filing procedures.

2: Consider using the IRS’s streamlined procedures if eligible

Vector icon of a warning triangle over bank documents, showing severe penalties for offshore crypto noncompliance.

3: Act fast - penalties for offshore noncompliance can be extreme

When to Seek Professional Help

CryptoTaxAudit helps clients fix offshore reporting issues and avoid harsh IRS penalties through disclosure programs and amended returns.

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Additional Resources

Voluntary compliance letters