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Information on Release Foreign Exchange Form How to Fill

Information on Release Foreign Exchange Form How to Fill

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okay for this video i want to go over a very simple example as to how to file an fbar which is a foreign bank account report for a u.s taxpayer okay so f bars on form fincen 114 these are filed every year by u.s persons so this includes u.s citizens green card holders residents or u.s companies right so u.s corporation or u.s partnership might have to file this if they have foreign bank accounts now the form is filed with fincen it doesn't go to the irs but generally you're completing your fbars and your tax return at the same time because the due dates are the same okay so in this example you can see in front of here i have a fincen 114 this was prepared using the tax preparation software that i have that i could e-file with fensim but what's really important to note here is fenson does not accept paper-filed f-bars so you either have to prepare it using some type of tax return prep software that you can e-file or you go directly to the fincen website they have a bsa e-filing website

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