FBAR Reporting

[Randall]

I see the old TD F 90-22.1 form has been replaced by FinCen 114. ATX says this form must be filed online only and is not available in ATX. They did provide a link for instructions. That took me to a website called BSA E-Filing System.

Has anyone done this? Should we as tax preparers enroll as filers on this system or just direct our clients to this site to do it themselves?

Form 8938 is still required to be filed with 1040 but has a higher threshold requirement than the FinCen 114.

[MsTabbyKats]

I just give my clients the link and tell them it has to be filed directly by them this year.

[JohnH]

That's what I'm doing - tell them about the link and let them handle it.

There's no way I'm getting anywhere near actually filing the FinCen 114.

[Randall]

Thanks. That was my first thought too.

[Margaret CPA in OH]

Remember Form 8938, too. I provide the links to clients but that's it. Finally, a 'not my job' form. If 8938 applies, I want a completed form which I then input from their data.

[joanmcq]

I never filed the old FBAR either. Too much risk in that one. I'd just make sure the clients know they have to file it. It wasn't a tax form either. The 8938 is a tax form, but at least has much higher limits than the FBAR, especially I'd you reside in a foreign country.