Monday, September 9, 2013

FBAR Has a New Form

The former TD F 90-22.1 used to report foreign bank and financial accounts is being replaced with a FinCEN Form 114, Report of Foreign Bank and Financial Accounts.  The new form is still called an FBAR.

A pdf version of the new form can be found on  The front page of the pdf version has boxes at the top that say:  Save, Validate, Submit, Print, and Close.  It reminds taxpayers that the due date is June 30th.

This front page also has a segment that says:

“This report filed late for the following reason (Check only one):”  and has checkboxes for ten reasons including “Forgot to file”, “Did not know that I had to file”, and of course “Other (please provide explanation below).”

There is now a 3rd party preparer signature line on page 1 of the report.

Don’t forget all FBARs filed after June 30, 2013, must be filed electronically.

-This text has been shared with you courtesy of:  David & Mary Mellem, EAs & Ashwaubenon Tax Professionals

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