The FBAR is dead! Abolished; it is Deceased. Small hurrah! | AccountingWEB

The FBAR is dead! Abolished; it is Deceased. Small hurrah!

Goodbye TD F 90-22.1 - Hello FinCEN 114!

Our dear old friend the FBAR is being re-cooked by those guys at the US Treasury. The Form TD F 90-22.1 we have all truly loved and (some have) worshiped since the early 1970s will die this year. By the New Year, it will be no more.

Like a phoenix it will though be re-born – to be known as new shiny FinCEN 114! Don’t say you did not know!

Editor’s Note

FBARs are hot news; whatever the darn form number! This is an annual return required by US persons reporting accounts held outside the United States (or signature authority over accounts outside the United States). It comes with annoyingly huge possible penalties if filed late or incorrectly so should never be ignored.

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