Us Foreign Bank Account Reporting

[T_Dog]

Be forewarned the old FBAR reporting form has changed for reporting 2012. (TD F 90-22.1) I used an outdated form and received a letter. You can now do it online at http://bsaefiling.fincen.treas.gov/main.html but it did not work for me as it got into an endless loop telling me I did not have the most up-to-date Adobe reader, although I do.

With all the fraud and money laundering in the world, it seems the IRS is putting more scrutiny on foreign bank accounts these days.

[Tywais]

Thanks for the heads up, wasn't aware it was available for e-filing now.

[T_Dog]

Thanks for the heads up, wasn't aware it was available for e-filing now.

Let us know how it works out if you file online. The system there seems Windows-centric so it didn't seem to recognize the Adobe version running on my Mac and it would not give me the entry menu for data.

[longball53098]

I just read this topic and thought great! I registered and started the process and got only as far as start a new FBAR and the system responded I do not have the correct version of reader. I know I have the latest and greatest but updated anyway and cannot get past this message on 2 PCs. One Win 7 and 1 Win XP.

So I am stuck at this point and wonder what the issue is?

Anyone?

Update in the last 5 minutes! I was trying this login and FBAR reporting using my standard Chrome. I switched to IE and the system now allows the form to begin

Edited March 19, 2013 by longball53098

[Tywais]

Just saw this and wonder why such a limitation on the version of Adobe. Since most of us get auto-updates of Adobe that is a major issue. Mine just updated today to 10.1.6

The required version of the Adobe Reader is or 9.1 or 10.0.2

[Langsuan Man]

I like the online reporting because you get a receipt for your report:

[email protected]

Jan 13

to me

Type: FBAR

Receipt No.:FB13-XXXXXXXXXXXXXXXXX

PLEASE NOTE: This email is for notification purposes only.
Please do not reply to this email for any purpose. Questions may be
routed to the BSA E-Filing Help Desk at 866-346-9478 option 1, or
[email protected].

Your submission has been received and will be transmitted.

https://bsaefiling1.fincen.treas.gov/PublicAccess

[Pib]

Please note those of you who have been filing a "one" FBAR report which covers both your and the spouse as allowed/covered under the FBAR instructions "Exceptions, Certain Accounts Jointly Owned by Spouses," the online FBAR reporting can not handle this joint reporting at this time.

Hopefully they'll get the online system updated to handle joint FBAR reports like the paper version FBAR reports currently allow...so for this reason I'll be using the paper version route again this year.

[55Jay]

Not sure why, but the Lee Greenwood song (you know which one) keeps looping in my head as I read this.

[longball53098]

I made my way through creating a new FBAR 2 times on the site and both times when I got to the submission part the site error ed saying I needed to log in again to "submit" the file. After trying this 4 times I gave up in frustration

Anyone had success "submitting" the report?

[Langsuan Man]

I made my way through creating a new FBAR 2 times on the site and both times when I got to the submission part the site error ed saying I needed to log in again to "submit" the file. After trying this 4 times I gave up in frustration

Anyone had success "submitting" the report?

see post # 6

[Ticketmaster]

I submitted successfully online last year. Haven't gotten to this year yet.

I got rid of all my joint accounts. With all the US bullshit and the Thai immigration bullshit, joint accounts are just too much trouble. I can move money back and forth from my wife's account online -- that is, I can do all the things with her account that I cannot do by walking into the bank, and ditto for her.

[mania]

Not sure why, but the Lee Greenwood song (you know which one) keeps looping in my head as I read this.

Funny but the song looping in my head is Buffalo Springfield's

Edited March 20, 2013 by mania

[55Jay]

Not sure why, but the Lee Greenwood song (you know which one) keeps looping in my head as I read this.

Funny but the song looping in my head is Buffalo Springfield's

Nice one, thanks.

[Sheryl]

I use a Mac and had the same problems others mentioned re Adobe Acrobat but by clicking on "open with other view" (upper right hand of the page) reoilved it and got registered easily.

[el jefe]

I made my way through creating a new FBAR 2 times on the site and both times when I got to the submission part the site error ed saying I needed to log in again to "submit" the file. After trying this 4 times I gave up in frustration

Anyone had success "submitting" the report?

I printed the form and mailed it. Took much less time than reading this thread.

[T_Dog]

I use a Mac and had the same problems others mentioned re Adobe Acrobat but by clicking on "open with other view" (upper right hand of the page) reoilved it and got registered easily.

Okay, that helps as now I got my form filled in, signed with PIN and saved. It will not submit however as it says I am not logged into the BSA filing system. (I am logged in though and can check status, etc.) Did you find a work-around for that or did it just not come up when you hit submit?

[55Jay]

I made my way through creating a new FBAR 2 times on the site and both times when I got to the submission part the site error ed saying I needed to log in again to "submit" the file. After trying this 4 times I gave up in frustration

Anyone had success "submitting" the report?

I printed the form and mailed it. Took much less time than reading this thread.

I filled it out, print and signed it, then read this thread - and got pissed off all over again that we have to do it in the first place.

[longball53098]

I finally gave up on the 4th or 5th try of logging in and submitting only to be told I needed to log in again.

Printed out the form and ready to mail it

Maybe I will have better luck next year,,,,,,,,,ya think?

Edited March 21, 2013 by longball53098

[mania]

I am going to give it a try online but,

For the initial application User Application Form

When it asks for address,

I still have my US address valid & of course my address here in Thailand

Does anyone know if they care which you use?

If it does not matter I rather use the US address

Thanks for any help

[Pib]

I am going to give it a try online but,

For the initial application User Application Form

When it asks for address,

I still have my US address valid & of course my address here in Thailand

Does anyone know if they care which you use?

If it does not matter I rather use the US address

Thanks for any help

I know the paper instructions says use your U.S. address if you live in the U.S. and if you do not live in the U.S to use your foreign address. Guess it's up to you...maybe use the address you live at more days out of the year.

[mania]

I know the paper instructions says use your U.S. address if you live in the U.S. and if you do not live in the U.S to use your foreign address. Guess it's up to you...maybe use the address you live at more days out of the year.

Thanks Pib

I guess I will use Thailand then,

I wondered because I just E-filed my Tax returns& used my US address on those because

I pay with a US credit card & also the tiny return ( probably our last )

gets direct deposited into a US bank account

[mania]

Drats! I see I also have to file a Form 8938

I hope there is a online version of that too

Edit: Oh I see it was suppose to go with the tax return?

This form 8938

Yet I used Turbo Tax & while it asked about my foreign interest earned & listed it....

Turbo never prompted me for this form to be filed out.

Edit 2 : Just went back through Turbo & tried to file 8938 but it claimed I do not need to.

After running me through various screens asking values.

Funny because this site

http://www.irs.gov/Businesses/Comparison-of-Form-8938-and-FBAR-Requirements

Said based on their limits I did. Yet Turbo uses higher numbers for totals of assets

being 400-600k. Which sadly I do not have here.

Ahh US tax time love it almost as much as visiting Chiangmai Immigration

Edited March 22, 2013 by mania

[Pib]

Drats! I see I also have to file a Form 8938

I hope there is a online version of that too

Edit: Oh I see it was suppose to go with the tax return?

This form 8938

Yet I used Turbo Tax & while it asked about my foreign interest earned & listed it....

Turbo never prompted me for this form to be filed out.

This wouldn't apply unless you got a really BIG amount in foreign financial assets like deposits in a foreign bank...like more than $100K on the last day of 2012 or more than $150K during any time in 2012. I use TaxAct and here is the prompt it gave me on my joint return to say Yes or No to which would determine if I needed to file a Form 8938...I said No because I didn't meet either of the financial assets requirements.

[mania]

This wouldn't apply unless you got a really BIG amount in foreign financial assets like deposits in a foreign bank...like more than $100K on the last day of 2012 or more than $150K during any time in 2012. I use TaxAct and here is the prompt it gave me on my joint return to say Yes or No to which would determine if I needed to file a Form 8938...I said No because I didn't meet either of the financial assets requirements.

Thanks again Pib !

Yes I see now after re-reading the government form this...

(higher threshold amounts apply to married individuals filing jointly and individuals living abroad)

So I guess that is why Turbo put it at 400-600K

Thanks

[Pib]

This wouldn't apply unless you got a really BIG amount in foreign financial assets like deposits in a foreign bank...like more than $100K on the last day of 2012 or more than $150K during any time in 2012. I use TaxAct and here is the prompt it gave me on my joint return to say Yes or No to which would determine if I needed to file a Form 8938...I said No because I didn't meet either of the financial assets requirements.

Thanks again Pib !

Yes I see now after re-reading the government form this...

(higher threshold amounts apply to married individuals filing jointly and individuals living abroad)

So I guess that is why Turbo put it at 400-600K

Thanks

The trigger amount is going to "depend on the person's filing status and whether they live in the U.S. or outside the U.S." TaxAct agrees with TurboTax for a joint return for a person living outside the U.S. (of course both are just quoting IRS instructions). See below partial cut and paste from TaxAct expanded instructions for the different amounts depending on filing status and residence. It's some BIG amounts especially for folks with a foreign residence.

[Pib]

Or yea, and ain't it great how the IRS with its Form 8938 and the Treasury Dept with its Form TD F 90-22.1 (both U.S. Govt agencies) have widely varying trigger amounts for the reporting of foreign financial assets. And I'm sure representatives from both agencies could make our eyes roll back in our heads in trying to explain & justify why the amounts differ so much between the two agencies.

[up-country_sinclair]

So form TD F 90-22.1 is no longer valid?

What's the replacement form if you don't want to file online?

[mania]

So form TD F 90-22.1 is no longer valid?

What's the replacement form if you don't want to file online?

No this form 8938 is something different & goes to the IRS with your tax returns

(If you qualify as needing to submit one.)

The TD F 90-22.1 aka:FBAR, is still valid & goes to the treasury department

As far as what I read the mail in paper version is still valid but they will switch to online only in the near future

see below which I read here

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-%28FBAR%29

Electronic Filing for FBAR Forms – MANDATORY Beginning July 1, 2013

On June 29, 2011, FinCEN announced that all FinCEN forms must be

filed electronically with certain exceptions. The FBAR was granted a

general exemption from mandatory electronic filing through June 30,

2013. E-filing is a quick and secure way for individuals to file FBARs.

Filers will receive an acknowledgement of each submission. For more

information about FBAR e-filing, read the FinCEN news release.

Edited March 22, 2013 by mania

[Jingthing]

Just saw this and wonder why such a limitation on the version of Adobe. Since most of us get auto-updates of Adobe that is a major issue. Mine just updated today to 10.1.6

The required version of the Adobe Reader is or 9.1 or 10.0.2

Help!

Are they serious about this version number for reader?

I can downgrade to 9.1 but Adobe clearly says on their website it is INSECURE.

Even on Adobe ftp archive, there is NO 10.0.2

Are they playing us?

I thought this would be FIXED BY NOW. (The version requirements).

BTW, for NEXT YEAR, online filing is REQUIRED (starting in July)

The Adobe FTP.

Have other been successful using other versions? I've got 9.1. Should I use it?

ftp://ftp.adobe.com/pub/adobe/reader/win/10.x/

Another question, on the initial USER setup to be able to efile FBAR there is form with REQUIRED fields of S.S. number AND E.I.N. number. Surely they don't require BOTH if you aren't an employer?!?

Edited May 30, 2013 by Jingthing

[longball53098]

I will add one to this. I had trouble online filing. I was convinced I had the correct version of Reader. I also tried different versions to see no changes.

I must tell you I also have Adobe Acrobat Pro X on my PC. I have never had issues using Acrobat with any pdf documents and filling or submitting forms online of off.

So I wrote to the contact email and finally got a response after about 3 weeks and a second response about a week later. The IT dept. basically said I needed the correct version of reader and that if I had Acrobat installed it must be removed as their system has issues with Acrobat.

I wrote back there is no way I would un-install Acrobat to file one form. I suggested they get an IT professional in to fix this issue and all the other issues with this online filing. No response since