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The FinCEN Form 114a, Record of Authorization to Electronically File FBARs is another FBAR form which addresses the needs of individuals who file jointly with a spouse or who prefer to submit FBARs via third party preparers. This form is not filed but prepared and kept for recordkeeping purposes.
Who Must File the FBAR? A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.
FBAR (aka FinCEN Form 114) It is more accurately referred to as the Foreign Bank and Financial Account Reporting form, and technically referred to as FinCEN Form 114.
Who Must File the FBAR? A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.
Certain domestic corporations, partnerships, and trusts that are considered formed or availed of for the purpose of holding, directly or indirectly, specified foreign financial assets (specified domestic entities) must file Form 8938 if the total value of those assets exceeds $50,000 on the last day of the tax year or
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The FBAR is formerly called the Report of Foreign Bank and Financial Accounts, and is also known as FinCEN Form 114.
The Form 8938 filing requirement does not replace or otherwise affect a taxpayers obligation to file FinCEN Form 114 (Report of Foreign Bank and Financial Accounts). Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS.
The Report of Foreign Bank and Financial Accounts (114) must be filed electronically using the BSA E-Filing System. Individuals can satisfy their filing obligation by using the no registration option within the E-Filing System.
The FBAR is formerly called the Report of Foreign Bank and Financial Accounts, and is also known as FinCEN Form 114.
Note: If jointly filing with a spouse, both parties should complete and sign Form 114a. Completing the Form 114a with both spouses signing the form completes the necessary requirement that will permit one spouse to electronically sign (PIN) a single report for both parties instead of filing two FBARs.

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