April 26, 2015
Basic Information on filing FBAR – FINCEN Form 114 for 2014
Who must file a Form 114 FINCEN FBAR Form:
- Any United States person who had a financial interest in or signature authority over at least one financial account located outside of the United States; and
- the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.
~ The FBAR (filed on-line) must be received by the Department of Treasury on or before June 30th of the year immediately following the calendar year being reported.
~ The June 30’th filing date may not be extended.
~ We advise reading all of the instructions before starting to fill out the FBAR .PDF form, because the government software is somewhat cranky – and if you mistakenly fill out some fields, they cannot be abandoned, corrected, or deleted. (in our experience)
1. Get your account information together for all foreign accounts – noting the annual
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Full details and translations can be found in the Main Article (see Header):
Filing FBAR Foreign Financial Account Information for US Citizens for FINCEN 114 – Article
Also see our Master article on Taxes at: IRS Tax Issues for Americans Living and Working Abroad in Mexico – Master Article for more FBAR and FATCA filing information & requirements.
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Feel free to copy while giving proper attribution: YucaLandia/Surviving Yucatan.
© Steven M. Fry
Read-on MacDuff . . .
Have you heard anything about a new regulation when selling your home? Something about obtaining a financial review form from Hacienda? Any word on this?
We’ve heard nothing of this.
I should be talking with our Notario in the next week, and I’ll plan to ask him.
Hi, Steve, when I did my FBAR for 2016 I noticed they’d changed the filing deadline to April 15, from June 30. https://www.fincen.gov/news/news-releases/new-due-date-fbars-0
They also added this about the deadline for filings, this year, “The due date for FBAR filings for foreign financial accounts maintained during calendar year 2016 is April 18, 2017, consistent with the Federal income tax due date.”
It’s just as well, because it reduces the number of deadlines we have to remember!
Thanks ! for the excellent update on the 2016 FBAR’s updated~changed due date.
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