Save content
Have you found this content useful? Use the button above to save it to your profile.

FBARs? Oh Happy Day! Exchange Rates just published!

14th Jan 2014
Save content
Have you found this content useful? Use the button above to save it to your profile.

For anyone filing FBARs it has often been a lengthy search each year around the US Treasury website to find out which exchange rates might be acceptable.

Thankfully, these exchange rates are easier to find than ever before.


These returns (reporting non-US financial accounts) typically require conversion into US dollars using the US Treasury exchange rate on 31st December each year.

The official FBAR exchange rates for 31st December 2013 were published within the past 24 hours; and can be found here:

As historic rates are not published in full in the Treasury website, the IRS has also been kind enough to provide several years of earlier rates here:

The NEW way to file an FBAR?

FBARs are separate to and in addition to United States income tax returns and are due to be filed by 30 June each year in relation to the previous calendar year. This date cannot be extended.

The US Department of Treasury announced that in a change of process effective from 1 July 2013, all FBAR reports for all years are expected to be filed electronically using the BSA (Bank Secrecy Act) section of the US Treasury website:

Paper filing of FBARs is no longer permitted. FBAR forms are now downloaded to your own computer or memory stick; prepared by you in your own time saved and then re-uploaded and filed by you when you feel ready, again from this link:

Incidentally, the Form TD F 90-22.1 that you may remember of old was honourably retired on 30 June 2013; after more than 40 years of publication. The replacement form is virtually identical but only in electronic format; and is re-named as FinCEN Form 114.

The only permissible FBAR exchange rate is the US Treasury rate; which can be found at the link above.  File by 30 June 2014 and sleep happy!

Editorial Note

American Tax Returns Ltd is a leading firm providing US tax advice and completing US tax returns, based in London. Contact [email protected].


You might also be interested in

Replies (1)

Please login or register to join the discussion.

By Harrymon12
20th Apr 2017 13:17

Well, using MarketXLS works for me. It's great.

Thanks (0)