February 2017

Please review the How to File the FBAR Electronically instructions to ensure your system is setup properly to file the FBAR on our system. Technical issues encountered during the FBAR Filing process may be directed to BSA E-Filing Technical Support. Please provide the operating system and browser used, and any specific details and screenshots if possible when sending an email. Please do NOT attach sensitive information, such as your completed FBAR, when contacting the Help Desk.

Record Keeping Requirements. Persons required to file an FBAR must retain records that contain the name in which each account is maintained, the number or other designation of the account, the name and address of the foreign financial institution that maintains the account, the type of account, and the maximum account value of each account during the reporting period. The records must be retained for a period of 5 years from April 15th of the year following the calendar year reported and must be available for inspection as provided by law.

If this report is being late filed (i.e., filed after October 15 of the year following the reporting year) make selection from the drop-down list to indicate the reason. If one of the provided selections does not explain the reason, select “other” and provide a written explanation in the text box provided. 

NOTE: If you are filing this report late because an earlier FinCEN filing waiver applied to you, check box “z” other and identify the waiver by number (e.g., FinCEN notice 2011-1 etc.) in the text field provided.

Can an employer submit an FBAR via the BSA E-Filing System on behalf of its employee, who has an obligation to file an FBAR due to their signature authority over the employer’s account(s)? 

Item 14. If the filer has a financial interest in over 25 or more foreign financial accounts check the yes box, and enter the total number of accounts in 14a. Leave blank Part II (Continuation of Separate Accounts) or Part III (Joint Accounts) of this report, but maintain records of the information. If filing a consolidated FBAR, the United States person should not complete Part II or Part III but should complete Part V, Items 34-42, for each United States entity included in the consolidated FBAR. 

Monetary amounts: When recording the maximum value of accounts, record all amounts as U.S. Dollar amounts rounded up to the next whole dollar. The amount $15,265.25 would be recorded as $15,266. The maximum value of the account can be determined using the following steps.

NOTE: After determining the value of the account, as described below, if the value results in a negative (minus) value, enter zero (0) in item 15, “Maximum account value.”

Responsibility for Child’s FBAR
Generally, a child is responsible for filing his or her own FBAR report. If a child cannot file his or her own FBAR for any reason, such as age, the child’s parent, guardian, or other legally responsible person must file it for the child. Signing the child’s FBAR. If the child cannot sign his or her FBAR, a parent or guardian must electronically sign the child’s FBAR. In item 45 Filer Title enter “Parent/Guardian filing for child.”

Part III — Information on financial account(s) owned jointly
Note: If jointly filing with a spouse, both parties should complete and sign Form 114a. Completing the Form 114a with both spouses signing the form completes the necessary requirement that will permit one spouse to electronically sign (PIN) a single report for both parties instead of filing two FBARs. The Form 114a is available on the FinCEN (under the forms tab) and BSA E-File websites. Keep this form for your records, do not send to FinCEN.

What if I file an FBAR with my spouse? How will I be able to meet the two-signature requirement and E-File?

United States Person. United States person means United States citizens (including minor children); United States residents; entities, including but not limited to, corporations, partnerships, or limited liability companies created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.