FBAR Changes

by Rock Private Office Mon Jul 01, 2013 12:53 pm

30th May was the deadline for submitting you FBAR. There is no extension possible, so if you are filing late you should add a cover note explaining why. Just to add to your woes, if you were planning to hand the completed form to your local consulate with the covering note, you no longer can!

The IRS and the Financial Crimes Enforcement Nework (FinCen) announced on Friday that paper FBARs will no longer be acceptedas of today, July 1, 2013. If you have not filed your 2012 FBAR yet and you intend to file it yourself, you will need to create an account at FinCen’s Bank Secrecy Act (BSA) e-filing website: [You must be registered and logged in to see this link.]

After you create your account you will be given a PIN code. You must then logon to the website whose link you will receive via email, click on the FBAR link on the left side of the website and manually enter all of your FBAR data into the writeable pdf version of their FBAR form. I recommend you also save the FBAR to your computer before you click the button to e-file it.