October 15 Tax Deadline: Why it Matters for US Expats

If you’re a US expat who filed for a tax extension earlier this year using Form 4868, the tax filing deadline October 15 is your final opportunity to submit your 2024 return on time. This is also the last official day to e-file before the IRS shuts down e-filing for the year. And don’t forget, the FBAR is also due on the same day, even if you’re not required to file a US tax return.

Missing the October 15 tax deadline can lead to penalties, interest charges, and missed opportunities to claim valuable exclusions, credits, or refunds. The urgency can feel overwhelming, but with the proper preparation, it doesn’t have to be. In this article, we walk you through everything you need to know about the October 15 tax deadline so you can confidently file.

What Is the October 15 Tax Deadline?

The October 15 deadline is the final day for US taxpayers to file their 2024 US tax return if they requested an extension using IRS Form 4868.

This extension applies to filing only; any taxes owed were still due by April 15 and may have already started accruing interest. However, filing your return by the October 15 deadline can help reduce additional late filing penalties and ensure you claim any refunds or credits you’re entitled to.

October 15 FBAR Deadline

If you had foreign financial accounts that exceeded $10,000 combined at any point in 2024, even for just one day, you must file an FBAR (Foreign Bank Account Report) using FinCEN Form 114. The FBAR deadline is April 15, but the IRS grants an automatic six-month extension that requires no separate form. This extension applies to all filers, regardless of where they live, making October 15 the final deadline to stay compliant. The FBAR filing requirement still applies even if you don’t need to file a US tax return.

FBARs are filed separately from your US tax return and must be submitted through the Financial Crimes Enforcement Network (FinCEN) BSA e-filing System, not the IRS. Failing to file can result in steep penalties, starting at $10,000 for non-willful violations.

To simplify your reporting, consider using expat-friendly tax software like MyExpatTaxes. Our software lets you file your tax return and FBAR in one place before the October 15 tax deadline — and there’s no extra charge to file your FBAR!

October 15: Last Official Day to E-File

The October 15 tax deadline is the final day to e-file your 2024 US tax return. After this date, your return will be considered late. The IRS e-filing system shuts down for the year mid November, and you’ll no longer be able to submit your return electronically.

Filing late doesn’t just create paperwork headaches; it can also result in late penalties and lost tax benefits. That’s why it’s critical to file your return by the October 15 tax deadline, especially if you’re claiming exclusions or credits.

October 15 Tax Deadline Filing Checklist

If you requested an extension, here’s an overview of what you’ll need to submit your US tax return before the deadline.

1. Collect Your Documents

Gather key financial records from both US and foreign sources, including:

• Prior year’s US tax return (for reference and carryovers)
• Foreign income docs (payslips, invoices)
• US 1099 forms (interest, dividends, self-employment)
• Foreign tax returns and payment records
• Bank statements, crypto, and investment records
• Travel dates to the US (for FEIE eligibility)

2. Report Foreign Assets and Accounts

You may need to include additional international forms:

• FBAR (FinCEN Form 114): Required if foreign accounts exceeded $10,000
• Form 8938 (FATCA): For foreign assets above IRS thresholds
• Forms 5471 / 8865 / 3520: For foreign businesses, partnerships, or trusts

3. Claim Tax Breaks to Avoid Double Taxation

The IRS has provisions available to help US expats avoid double taxation. Determine your eligibility and choose the best option between the FEIE vs FTC for your specific situation. You can use both, but not on the same income:

• Foreign Earned Income Exclusion (FEIE, Form 2555): Exclude up to $126,500 foreign earned income in 2024 if you qualify under either the Physical Presence Test (330 full days abroad in a 12-month period) or the Bona Fide Residence Test (full tax year residency in a foreign country)
• Foreign Tax Credit (FTC, Form 1116): Credit for foreign income taxes paid

4. Check for State Filing Obligations

Some states may still require you to file a return while living abroad, especially if you have ties like property, voter registration, or a driver’s license, or if you earned state-sourced income. If you moved abroad mid-year, you might need to file a part-year return for income earned while you were a resident.

5. Max Out Retirement Contributions (If Eligible)

You may still be able to make contributions for the prior tax year:

• SEP IRA: Contributions can be made up to the October 15 deadline if you’re self-employed
• Solo 401(k): Employer contributions may also be allowed by the extension date, depending on your plan setup

Penalties for Missing the October 15 Tax Deadline

Filing after the October 15 tax deadline can lead to serious consequences:

• Failure-to-File Penalty: 5% of unpaid taxes per month, up to 25% total
• Loss of Tax Benefits: Some tax benefits, like the Foreign Earned Income Exclusion, must be claimed by the extended deadline. Missing it can mean losing this tax-saving expat benefit
• IRS Scrutiny: If you’ve used an IRS amnesty program like the Streamlined filing, missing the deadline may trigger extra attention
• Refund & Contribution Delays: Late filing can delay tax refunds and prevent finalizing retirement contributions like SEP IRAs or Solo 401(k)
• Penalties for Missing Forms: Forms like Form 5471 (foreign corporations) or the FBAR (foreign bank accounts) can trigger penalties starting at $10,000 + per missed form, even if no tax is due

Missed the June 16, 2025, Deadline to File an Extension?

If you didn’t file Form 4868 by June 16, 2025, you missed the extension to October 15. Your 2024 return is now late, and the IRS may start assessing failure-to-file penalties, which grow over time. If this is the case, file your 2024 return as soon as possible to reduce any late penalties.

The good news: You may qualify for the First-Time Penalty Abatement if you’ve been compliant in prior years. The Streamlined Filing Compliance Procedures may be a better fit if you’re behind on multiple years and your late filing was non-willful, such as due to a misunderstanding or oversight. Read our complete Streamlined Filing Guide to learn exactly how it works.

MyExpatTaxes Can Help You Get Back on Track

Don’t panic, but don’t wait either. Filing on time not only helps you avoid penalties and IRS scrutiny, but it can also put money back in your pocket.

Whether you missed the extension filing deadline or need help filing before the October 15 deadline, MyExpatTaxes makes it easy for US expats to stay compliant, with smart software and expert guidance when you need it.

Get started for free, pick a plan when you’re ready. Or see the Pricing Page for all the details.