How to File FBAR FinCEN Form 114 | How do I report a foreign bank account (s) on my tax return 2022

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Filing the FBAR is different from filing your Federal Tax Return. The FBAR is filed separately to the Department of the Treasury–not the IRS.

My video on how to fill the Form 114:

   • How to FILL or FILE FinCEN Form 114 o...  

FBAR (FinCEN Form 114) is not filed with the IRS. It must be filed directly with the office of Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, separate from the IRS.

To file the FBAR, you’ll use FinCEN 114 and submit it electronically through the BSA e-filing site.

How Do You File FBAR?
Filing the FBAR is different from filing your Federal Tax Return. The FBAR is filed separately to the Department of the Treasury–not the IRS.
To file the FBAR, you’ll use FinCEN 114 and submit it electronically through the BSA e-filing site.

The process is straightforward and requires you to gather all pertinent account information and enter it into the online system. You can have a third party prepare it for you (i.e., a certified tax preparer), but you must file FinCEN 114a to give the party authority to do so.

FBAR E-FILING SYSTEM website:
https://bsaefiling.fincen.treas.gov/N...

Individuals Filing the Report of Foreign Bank & Financial Accounts (FBAR)
To file the FBAR as an individual, you must personally and/or jointly own a reportable foreign financial account that requires the filing of an FBAR (FinCEN Report 114) for the reportable year. There is no need to register to file the FBAR as an individual. If you are NOT filing the FBAR as an individual (as in the case of an attorney, CPA, or enrolled agent filing the FBAR on behalf of a client) you must obtain an account to file the FBAR by registering to Become a BSA E-Filer.

Note:
You need Taxpayer identification number to enter in the form 114.

What is us taxpayer identification number?
A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. ... A Social Security number (SSN) is issued by the SSA whereas all other TINs are issued by the IRS.

As the withholding agent, you must generally request that the payee provide you with its U.S. taxpayer identification number (TIN). You must include the payee's TIN on forms, statements, and other tax documents. The payee's TIN may be any of the following.

An individual may have a social security number (SSN). If the individual does not have, and is eligible for, an SSN, he or she must use Form SS-5 PDF (PDF) to get an SSN. The Social Security Administration will tell the individual if he or she is eligible to get an SSN.
An individual may have an IRS individual taxpayer identification number (ITIN). If the individual does not have, and is not eligible for, an SSN, he or she must apply for an ITIN by using Form W–7.
Any person other than an individual, and any individual who is an employer or who is engaged in a U.S. trade or business as a sole proprietor, must have an Employer Identification Number (EIN).
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Please check back for any updates or for new videos on the similar issues.

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:DISCLAIMER:
THIS IS NOT A CPA OR LEGAL OR INVESTMENT OR FINANCIAL ADVICE AND I AM NOT A LEGAL OR CPA OR IRS ENROLLED AGENT OR FINANCIAL SERVICES PROFESSIONAL. THIS VIDEO IS JUST FOR EDUCATIONAL PURPOSES ONLY.