Americans: Major Fbar News, E-Filing Now Possible And Set To Become Required In 2013

[JimGant]

Taxpayers who have joint reportable accounts and want to electronically file must file separate forms online; currently, the system can only handle one signature per FBAR. Also, a taxpayer’s accountant or attorney cannot file the FBAR on the client’s behalf.

This statement is a year old. Anyone successfully e-file with a joint account, whereby block 44 requires both your and spouse's signature?

[MrRealDeal]

I guess you are correct Jim , the IRS makes it clear that it's not a measure of your wealth , for that reason. I watched the webinar and it does say you would report closed accounts so I was incorrect.

[Jingthing]

Back to the details of FBAR e-filing, it seems there might be a good reason that e-filing is not yet required.

OK, obviously they require you to have Adobe Acrobat Reader reader installed.

But they say specifically it MUST be versions 10.0.2 OR 9.1

Great. Well, I have version 9.4 for Windows 7.

They direct to the adobe website to get a compatible version.

All Adobe offers me is Adobe Reader 10.1.3 (Windows 7)

Windows 7, you say?

Apparently, they are only officially supporting e-filing and viewing for Windows XP. Not to mention Mac.

What's up with this?

Any ideas about these TECHNICAL issues about Reader version and supported OS?

Are they saying don't bother trying to e-file unless you have the exact Reader version they want and are on Windows XP?

NOTE: Versions 10.0.2 and 9.1 are compatible with the BSA E-Filing system. System requirements can be viewed for each of these versions. We recommend use of version 10.0.2 unless your organization or system will not support this version.

The platform for use of Adobe Reader with BSA E-Filing forms is Windows XP. While other versions of Windows may be supported by Adobe Reader, they have not been specifically tested with BSA E-Filing and therefore are not officially supported.

There are specific versions of Adobe Reader software that are compatible with BSA E-Filing. If not already installed, please download and install the version of Adobe Reader that is compatible with BSA E-Filing. To view the compatible versions of Adobe Reader visit: http://bsaefiling.fincen.treas.gov and click the link Downloading the Forms Reader on the right side under User Quick Links.

Another question:

WHY on this page with gets you started with FBAR e-filing does it say USER TEST SYSTEM. What does User Test System mean in this context?

http://sdtmut.fincen.treas.gov/Enroll_Individual.html

Edited June 11, 2012 by Jingthing

[vagabond48]

Regarding the specific version you can go to this site to get older versions of most software. Go to the Office section and select Acrobat Reader. I was on 8.1 since I never liked the newer blotted versions. Besides, I normally use a portable PDF reader Sumatra.

I ignored the "USER TEST SYSTEM" and just went to "FileFBAR" on the left side of the page.

I already completed and submitted the form. I did have some frustrating issues.

Edited June 12, 2012 by vagabond48

[flying]

But they say specifically it MUST be versions 10.0.2 OR 9.1

Great. Well, I have version 9.4 for Windows 7.

They direct to the adobe website to get a compatible version.

All Adobe offers me is Adobe Reader 10.1.3 (Windows 7)

*Usually* when it comes to software needed.....Folks will list the minimum required version level.

So I think you would be fine with 10.1.3 since it is higher/newer than the required minimum 10.0.2

By the same reasoning your newer 9.4(newer than 9.1) should also be fine...

Edited June 12, 2012 by flying

[Jingthing]

Regarding the specific version you can go to this site to get older versions of most software. Go to the Office section and select Acrobat Reader. I was on 8.1 since I never liked the newer blotted versions. Besides, I normally use a portable PDF reader Sumatra.

I ignored the "USER TEST SYSTEM" and just went to "FileFBAR" on the left side of the page.

I already completed and submitted the form. I did have some frustrating issues.

So you think the point about the only officially supported system being Windows XP should be ignored as well for those using Windows 7? Their directions do not inspire confidence.

Good link, but, it so happens the site does NOT have Adobe Reader 10.0.2.

Edited June 12, 2012 by Jingthing

[Jingthing]

But they say specifically it MUST be versions 10.0.2 OR 9.1

Great. Well, I have version 9.4 for Windows 7.

They direct to the adobe website to get a compatible version.

All Adobe offers me is Adobe Reader 10.1.3 (Windows 7)

*Usually* when it comes to software needed.....Folks will list the minimum required version level.

So I think you would be fine with 10.1.3 since it is higher/newer than the required minimum 10.0.2

By the same reasoning your newer 9.4(newer than 9.1) should also be fine...

Perhaps, normally, yes. But the language they use is pretty specific. Edited June 12, 2012 by Jingthing

[flying]

But they say specifically it MUST be versions 10.0.2 OR 9.1

Great. Well, I have version 9.4 for Windows 7.

They direct to the adobe website to get a compatible version.

All Adobe offers me is Adobe Reader 10.1.3 (Windows 7)

*Usually* when it comes to software needed.....Folks will list the minimum required version level.

So I think you would be fine with 10.1.3 since it is higher/newer than the required minimum 10.0.2

By the same reasoning your newer 9.4(newer than 9.1) should also be fine...

Perhaps, normally, yes. But the language they use is pretty specific.

Perhaps the wording but.....logic dictates backwards compatibility

No software would remain in business if the new model could not function with previous versions.

Of course the opposite would not be true

[Jingthing]

But they say specifically it MUST be versions 10.0.2 OR 9.1

Great. Well, I have version 9.4 for Windows 7.

They direct to the adobe website to get a compatible version.

All Adobe offers me is Adobe Reader 10.1.3 (Windows 7)

*Usually* when it comes to software needed.....Folks will list the minimum required version level.

So I think you would be fine with 10.1.3 since it is higher/newer than the required minimum 10.0.2

By the same reasoning your newer 9.4(newer than 9.1) should also be fine...

Perhaps, normally, yes. But the language they use is pretty specific.

Perhaps the wording but.....logic dictates backwards compatibility

No software would remain in business if the new model could not function with previous versions.

Of course the opposite would not be true

That doesn't make too much sense if they say they are stuck using an OLDER version and you want to/need to send a NEWER version document.

[vagabond48]

Regarding the specific version you can go to this site to get older versions of most software. Go to the Office section and select Acrobat Reader. I was on 8.1 since I never liked the newer blotted versions. Besides, I normally use a portable PDF reader Sumatra.

I ignored the "USER TEST SYSTEM" and just went to "FileFBAR" on the left side of the page.

I already completed and submitted the form. I did have some frustrating issues.

So you think the point about the only officially supported system being Windows XP should be ignored as well for those using Windows 7? Their directions do not inspire confidence.

Good link, but, it so happens the site does NOT have Adobe Reader 10.0.2.

Sorry, I downloaded 9.1 from there. I didn't think there was any point of downloading a newer but larger version of Acrobat. As someone stated here, I suspect anything above 10.0.2 or even 9.1 should work.

[Jingthing]

Regarding the specific version you can go to this site to get older versions of most software. Go to the Office section and select Acrobat Reader. I was on 8.1 since I never liked the newer blotted versions. Besides, I normally use a portable PDF reader Sumatra.

I ignored the "USER TEST SYSTEM" and just went to "FileFBAR" on the left side of the page.

I already completed and submitted the form. I did have some frustrating issues.

So you think the point about the only officially supported system being Windows XP should be ignored as well for those using Windows 7? Their directions do not inspire confidence.

Good link, but, it so happens the site does NOT have Adobe Reader 10.0.2.

Sorry, I downloaded 9.1 from there. I didn't think there was any point of downloading a newer but larger version of Acrobat. As someone stated here, I suspect anything above 10.0.2 or even 9.1 should work.

What OS are you using? Windows XP? I already have lots of documents post 9.1 so that's no good.

[flying]

That doesn't make too much sense if they say they are stuck using an OLDER version and you want to/need to send a NEWER version document.

I guess that is possible but all newer versions of software allow "saving as"

Bottom line is Adobe does not save as versions....it saves a .pdf

I am pretty sure you will not have a problem. You are after all using their form & just filling it in.

You are not altering it with any *new* features. In the end it will save as a .pdf as always

[wannascuba]

I submitted my using Windows 7, was successful once I figured out the proper steps.

Edited June 12, 2012 by wannascuba

[vagabond48]

Regarding the specific version you can go to this site to get older versions of most software. Go to the Office section and select Acrobat Reader. I was on 8.1 since I never liked the newer blotted versions. Besides, I normally use a portable PDF reader Sumatra.

I ignored the "USER TEST SYSTEM" and just went to "FileFBAR" on the left side of the page.

I already completed and submitted the form. I did have some frustrating issues.

So you think the point about the only officially supported system being Windows XP should be ignored as well for those using Windows 7? Their directions do not inspire confidence.

Good link, but, it so happens the site does NOT have Adobe Reader 10.0.2.

Sorry, I downloaded 9.1 from there. I didn't think there was any point of downloading a newer but larger version of Acrobat. As someone stated here, I suspect anything above 10.0.2 or even 9.1 should work.

What OS are you using? Windows XP? I already have lots of documents post 9.1 so that's no good.

I am still squeezing the last few drops of life out of XP. As I previously wrote, I was still using 8.1 b4 being forced go to 9.1.

There is no harm in trying your current version. I used 8.1 and was able to use it to fill the form, save the form but submitting the form logged me off and I was unable to resubmit either because I did something wrong or indeed I needed at least 9.1. Anyway no harm done, I installed 9.1 and I started over with a new FBAR form and that got submitted successfully, so I suggest you can use the version you have and see if it works. You can also try this Adobe site which has that version but you need to download and install 10.0.1 followed by 10.0.2.

[Jingthing]

I am still squeezing the last few drops of life out of XP. As I previously wrote, I was still using 8.1 b4 being forced go to 9.1.

There is no harm in trying your current version. I used 8.1 and was able to use it to fill the form, save the form but submitting the form logged me off and I was unable to resubmit either because I did something wrong or indeed I needed at least 9.1. Anyway no harm done, I installed 9.1 and I started over with a new FBAR form and that got submitted successfully, so I suggest you can use the version you have and see if it works. You can also try this Adobe site which has that version but you need to download and install 10.0.1 followed by 10.0.2.

Good suggestion. However I downloaded 10.0.1 and it refused to update my current version. As it's only an update and not the entire program I presume removing my current version and installing the update only wouldn't suffice either.

[Jingthing]

Mailed it. Efile next time.

Posted with Thaivisa App http://apps.thaivisa.com

[Javabear]

I just got set up with the e-file account but for some reason none of the pages would open when I went to try and fill out the report. I have the latest Adobe but dno't know what the problem could be. Do I need a US IP address?

[vagabond48]

I just got set up with the e-file account but for some reason none of the pages would open when I went to try and fill out the report. I have the latest Adobe but dno't know what the problem could be. Do I need a US IP address?

I already did mine online from CM so you should not have an IP issue. You need to be more specific regarding the pages you are referring to.

What pages are you talking about? What steps are you taking?

[Javabear]

I just got set up with the e-file account but for some reason none of the pages would open when I went to try and fill out the report. I have the latest Adobe but dno't know what the problem could be. Do I need a US IP address?

I already did mine online from CM so you should not have an IP issue. You need to be more specific regarding the pages you are referring to.

What pages are you talking about? What steps are you taking?

I click the link file and a page opens with 2 options. 1 option to modify an existing report and 1 to file a new report. I click on the link to file a new report and a new window opens that just comes up and says about:blank. I waited 10 minutes and nothing moves from there. I have tried multiple times now.

[IMA_FARANG]

.

US Expats who keep 800,000 Baht wasting away in a Thai bank just to satisfy a Visa requirement should learn that it's not necessary. Simply use the Embassy income verification letter instead and send your money back to where it can be working for you.

That 800K could be earning over US$1500 annually (over 47,000 Baht) if invested properly at no real risk of loss. Keeping it in a Thai bank is the equivalent of tossing it out the window, bit by bit, over the years.

That's not correct.

For the retirement extension you need:

1. 800K Thai baht in a Thai bank account OR

2. An income of the equivalent of 65K Thai baht MONTHLY or

3. A combination (some immigration offices may question this method) of the two above...i.e 500K in a Thai bank and sufficient monthly pension income to satisfy the 800K requirement.

Currently the exchange rate of roughly 31 baht to a dollar makes 800K baht equal to roughly $27,000 and the 65K monthly requirement about $2000.

I am quite familiar with this as I have had a retirement extension for 2 years now.

My monthly Social Security is about $1650 a month...short of the required 65K Thai baht.

Can you please give me the name and contact address of that U.S. bank that pays you $2000 each month on a $27,000 account....that's an interest rate of about 8% monthly or over 90% yearly?

I'd really love to deposit money with them at that interest rate,

[vagabond48]

I just got set up with the e-file account but for some reason none of the pages would open when I went to try and fill out the report. I have the latest Adobe but dno't know what the problem could be. Do I need a US IP address?

I already did mine online from CM so you should not have an IP issue. You need to be more specific regarding the pages you are referring to.

What pages are you talking about? What steps are you taking?

I click the link file and a page opens with 2 options. 1 option to modify an existing report and 1 to file a new report. I click on the link to file a new report and a new window opens that just comes up and says about:blank. I waited 10 minutes and nothing moves from there. I have tried multiple times now.

I don't know what link file is? Did you mean you clicked on File FBAR under Legacy Reports, if yes, you were in the right place. I just tried it and took the 2nd option to open a new PDF document successfully. I am using Adobe 9.1. You said you are using the latest reader perhaps it is too new? I don't know if newer versions beyond what they require work yet. Remember this is a guvimunt web site. Good luck

[Jingthing]

Remember, they have plans in the works now to make e-filing FBARs required (if you need to file the form) in the somewhat near future. The way this is set up now, more like FUBAR than FBAR!

[SurfRider]

.

"Can you please give me the name and contact address of that U.S. bank that pays you $2000 each month on a $27,000 account"

First of all, your numbers and assumptions are incorrect. Obviously you haven't read the entire thread. See post #51 for starters. Download the spreadsheet for the Dividend Champions and look at the top 5 or 10.

Anyone buying a fixed dollar amount of each of the Stocks in the top 5 in the list will receive an annual dividend of over 7% (based on current prices of the top 5 Stocks) -- if you want more diversification, the top 10 currently yields 6%.

Of course the prices of the Stocks themselves, and thus the equity value of the portfolio, can vary widely over time so there is risk involved-- but the point is that these are ALL solid US companies that have been around for at least 25 to 50 years or longer and have always increased dividends and performed well in the broad market-- so the risk is as minimized as just about any investment you can find that yields more than Treasury Bonds.

As always, the well known Thai-Visa critics will chime in and bash the concept . . .

http://www.thaivisa....50#entry5374869

.

[Jingthing]

Sorry, this is a thread about e-filing FBAR forms.

[taxout]

Like Wannascuba, I kept getting the error message, "You must first log into the BSA E -Filing application in order to submit this form. Once logged in, you may re-open this form and submit." Finally resolved it by going into Adobe Reader Preferences > Internet and checking "Display PDF in Browser."

Also, to read the messages in my FINCEN mailbox (which come as PDF downloads), I had to put the FINCEN site into the IE Trusted Sites box and then check Downloads > Automatic Prompting for File Downloads > Enable as a Custom Level Security Setting.

Having just done this, I have to say it's not an especially user-friendly process.

[taxout]

(Also, there's a statement somewhere on the FINCEN site that Firefox is not supported.)

[Jingthing]

Does anyone else see the problem of REQUIRING e-filing when there are so many TECHNICAL ISSUES with their e-filing system? Many people are NOT going to be capable of resolving these technical issues when e-filing is required if they have the same kind of e-filing system as now. What are they thinking? Are they expecting us all to PAY a professional preparer to e-file these forms?

Edited June 21, 2012 by Jingthing

[taxout]

"Are they expecting us all to PAY a professional preparer to e-file these forms?"

Certainly not!

Because they won't let you: you have to file your form yourself:

"Can a law firm file BSA forms for a client?

"No. A law firm may assist its clients in the preparation of electronic BSA forms for BSA E-Filing, but the client must submit filings on its own behalf."

http://bsaefiling.fincen.treas.gov/FAQs.html#categ_01_quest_04

[vagabond48]

(Also, there's a statement somewhere on the FINCEN site that Firefox is not supported.)

I used FF 12.0 to successfully submit my FBAR form.

[taxout]

That's interesting, because the FAQ does say "You cannot access BSA E-Filing using Firefox browser at this time." And when I try to go to the sign-in page with Firefox 3.6.28 I get a "Peer reports incompatible or unsupported protocol version" error message (whatever that means) instead of the sign-in page.

http://bsaefiling.fi...s.gov/FAQs.html

And astonishingly -- well, frankly, not so astonishingly -- FINCEN doesn't support anything beyond XP:

"What are the technical requirements to use BSA E-Filing?

"At least one computer that has access to your Internet connection and meets the following specifications:

* * *

"Microsoft Windows 2000 with Service Pack 4; Windows Server 2003; Windows XP Professional or Home Edition with Service Pack 2 or 3.

* * *

"The platform for use of Adobe Reader with BSA E-Filing forms is Windows XP. While other versions of Windows may be supported by Adobe Reader, they have not been specifically tested with BSA E-Filing and therefore are not officially supported."

This is precisely the sort of attitude -- "we'll get around to it when we get around to it, but in the meantime, when we say 'jump by June 30' you'd better jump -- that gives government and bureaucrats a bad name.

Edited June 21, 2012 by taxout