Wednesday, 26 March 2014

US Treasury Form TD F 90-22.1 replaced for 2013 declarations

For those US citizens or greencard holders with foreign financial accounts there are new FBAR reporting requirements for 2013 declarations. 

There is now a new online filing system and  a new FinCEN form 114 which can be accessed at:   

The filing deadline remains at June 30 following the calendar year-end being reported.  There are no exceptions to this deadline, regardless of extensions granted to file a tax return.

Severe penalties will be imposed for failure to file. 
Note: some taxpayers may also be required to file form 8938 with their tax return.