VIENNA, Va. (9/11/13)--The Financial Crimes Enforcement Network (FinCEN) is offering a webinar on Thursday Sept. 19 to discuss technical specifications related to the electronic filing of the Report of Foreign Bank and Financial Accounts (FBAR).
FBAR forms are filed annually and are used to report a financial interest in, or signature or other authority over, bank accounts, securities, or other types of financial accounts in foreign countries. FBARs must be filed for accounts that hold over $10,000 in funds at any time during the year.
FinCEN launched a computer-based e-filing system for FBARs in July 2011 to provide a quicker, cheaper, more secure, and more reliable way for individuals to file the reports. Last year, a high volume of FBAR e-filing created user issues with the e-filing system and e-filing telephone help desk, with both experiencing extremely high volume that resulted in some intermittent delays in submissions.
The 3 p.m. (ET) webinar Sept. 19 will provide participants with an overview of recent FBAR e-filing technical enhancements and other features of the electronic FBAR. Also, FinCEN representatives will be available to answer technical questions about e-filing and batch filing after the presentation.
This webinar primarily is intended for software development professionals and third party service providers, such as attorneys or accountants.