Tax & Accounting Blog

Enhanced Data Entry for Foreign Financial Account Information in 2014 UltraTax CS

CS Tax & Asset Management Solutions December 5, 2014

New for 2014, UltraTax CS is the ability to enter foreign financial account information on one input screen. Screen FrgnAcct, which islocated in the Other folder, supports data entry for the following forms as applicable: 

  • FinCEN 114 (Report of Foreign Bank and Financial Accounts) and
  • Form 8938 (Statement of Specified Foreign Financial Assets) 

On Screen FrgnAcct, select code 1 in the Report account on Form(s)  field (or leave the field blank), and UltraTax/1040 will report the account information on both Forms FinCEN 114 and 8938. The following table summarizes the function of each code available in the Report account on Form(s) field. 




Both Forms 8938 and 114 (default)


Form 8938 only


Form 114 only


Do not report on any form, keep for proforma


  • The new Screen Frgn Acct replaces Screen 114-2.
  • Foreign financial account information entered on Screen 8938-2 and/or Screen 114-2 in 2013 UltraTax CS will automatically proforma to Screen Frgn Acct. Screen 8938-2 accounts will proforma with a code 2, and Screen 114-2 accounts will proforma with a code 3 in the Report account on Form(s) field. 

More Information? 
Refer to Screen FrgnAcct – Foreign Financial Accounts for more information on this enhanced data entry.