How to File the FBAR yourself

Jan 11, 2016

HOW TO FILE THE FBAR YOURSELF

Online filing of the FinCEN Form 114 To file electronically:
  1. Click here for the BSA E-Filing page for an Individual
  2. Click on the icon “Prepare FBAR” in the middle of the screen
  3. A PDF file will download n your computer. Do not open it yet. First, you must save the PDF onto your computer. After the file has been saved, you can open the PDF
  4. Complete the FBAR with personal and bank information
  5. Click “Sign the FBAR” on the first page of the Form
  6. Save the signed version of the FBAR for your personal records
  7. Click “Ready to File”on the first page of the Form
  8. new webpage will open. Include your personal information and attach the signed FBAR as instructed
  9. Click “Submit”
  10. Save the confirmation information as well as the confirmation email you should receive upon submission
Useful hints:
  1. Print a copy of your previous year’s FBAR and use a pencil to write in the new balances and any new account details. It will make the FBAR filing process easier and quicker because all of the required information will be taken from your draft summary which matches the data entry lines in the online Form 114.
  2. When converting from Foreign Currency to USD, use the Treasury Reporting Rate that can be found here.
  3. When reporting a joint account with your spouse, the number of joint owners is 1 (your spouse).
  4. If your joint account owner is your nonresident alien spouse who does not have a US tax identification number, identify your spouse as “NRA”.
  5. If you have joint signatory rights but no financial interest in the account, enter the details in Part IV and not Part III.
 

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