Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Foreign account reports may now be e-filed FinCEN
WASHINGTON (7/20/11)--Foreign Bank and Financial Account Reports (FBAR) can now be filed electronically, the Financial Crimes Enforcement Network (FinCEN) reported this week. FinCEN’s filing system will accept Forms TD F 90-22.1 online. This new computer-based filing system will provide “a quicker, cheaper, more secure, and more reliable way for individuals to file FBARs,” FinCEN said. 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, and are required to be filed once per year. However, FinCEN said that the electronic filing options are somewhat limited for the time being. For now, electronically filed FBARs may only have one signature per form. For example, married couples that wish to file a joint FBAR may only do so with the paper forms. Each spouse would be required to file their own FBAR if they choose to file them electronically. FBARs cannot currently be created and filed using tax preparation software, but FinCEN said it is “working to create that convenience and capability.” For the FinCEN FBAR release, use the resource link.
Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
5 hours ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago