You can electronically process FinCEN Form 114, Report of Foreign Bank and Financial Accounts (commonly referred to as FBAR), formerly Form TD F 90-22.1, in UltraTax CS 2013. The UltraTax CS/1040, 1120, and 1065 applications currently support FinCEN Form 114 and e-filing this form. UltraTax CS/1041 will support e-filing this form on a future release.
Note: With the exception of Form 990 returns, data for FinCEN Form 114 is entered on Screens 114 and 114-2 in the Other folder in the applications listed above. FinCEN Form 114 is available for Form 990 returns as a noncalculating worksheet located in the Non Calculating folder in input screen view.
FinCEN (Financial Crimes Enforcement Network) is a bureau of the U.S. Department of the Treasury. FinCEN Form 114, formerly Form TD F 90-22.1, is, therefore, not e-filed with the IRS and is not part of the Modernized e-File (MeF) program. Instead, UltraTax CS transmits FinCEN Form 114 through the FinCEN BSA (Bank Secrecy Act) E-Filing System. Note that this form is due on or before June 30, 2014. Printed versions of the BSA e-filing forms are not intended for submission and will not be processed by FinCEN.
UltraTax CS supports individual e-filing of Form FinCEN Form 114, as well as batch e-filing of the form. When an e-filed FinCEN Form 114 has been accepted, UltraTax CS sends an automatic email acknowledgment to your client if you have entered the client’s email address in Screen Contact in the General folder or in the Setup > Client Communications dialog and entered 1 (Return) or 2 (Return/Extension) in the Email notification when electronic file is accepted by taxing agency field in Screen ELF in the Electronic Filing folder or selected Return or Return/Ext from the Email ELF Ack column in the Setup > Client Communications dialog. This email message is similar to the email acknowledgment currently sent for tax return and extension acknowledgments.
Review the following resources for more info on processing FinCEN Form 114 in UltraTax CS.
- FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) overview
- Financial Crimes Enforcement Network: BSA E-Filing System
- User Bulletin 1040 US-13.3.4: Electronic Filing – FinCEN Form 114 (FBAR) Processing Procedures
- Form 1120: E-filing Procedures for Form FinCEN 114
- Form 1065: E-filing Procedures for Form FinCEN 114
- Form 1041: E-filing Procedures for Form FinCEN 114