Advisory: FinCEN Offers Optional Electronic Filing for FBAR Forms

http://www.fincen.gov/news_room/nr/html/20110717.html

The page has been up for a while now, so not exactly "newsworthy", but the availability of e-filing should be good news for all those on the hook for the FBAR!

Note, you must register and be approved before you can use the system.

All reports are that this system is indeed functioning but of course cannot be used until January when the next bunch of FBARS are due.

The FINcen system does not appear to comply with EU rules on data protection, but e-filing is likely to be mandatory after June 30, 2012 so this aspect of EU law may need simply to be ignored.

All reports are that this system is indeed functioning but of course cannot be used until January when the next bunch of FBARS are due.

The FINcen system does not appear to comply with EU rules on data protection, but e-filing is likely to be mandatory after June 30, 2012 so this aspect of EU law may need simply to be ignored.

Well, you've certainly grabbed my attention. 'Mandatory' is quite a strong word.

The EU rules on data protection are not a surprise, but mandatory e-filing for those who prefer not to transfer personal data over the internet? This again raises the question of an NRA spouse who refuses to sign a US Treasury document if sharing a joint UK account (even assuming the filing problem with more than one signature is resolved before June 2012). Will an FBAR e-filing including a joint account be accepted with only the US Person's (one) signature? If not, then it becomes obligatory for any US Person to close any joint account for which the (non-US Person) co-owner refuses to sign an FBAR. Does it follow that the electronic filing to the IRS of Form 8938 (and therefore all of the return) also becomes mandatory at some later date?

E-filing of most professionally prepared Federal returns is also mandatory but one can still opt-out. Some States (eg New York) require e-filing for all returns and no longer accept paper returns under any circumstances.

E-filing of most professionally prepared Federal returns is also mandatory but one can still opt-out. Some States (eg New York) require e-filing for all returns and no longer accept paper returns under any circumstances.

Pardon the off topic and nitpicky response ... but NY returns can absolutely be filed on paper (see http://www.tax.ny.gov/pit/file/return_assembly_mail.htm). Having said that, there may well be other states that require e-filing.

I was referring to this news story:
http://www.cchgroup.com/wordpress/index.php/tax-headlines/state-tax-headlines/new-york-personal-income-tax-electronic-filing-and-payment-mandate-announced-for-individual-taxpayers/

I was referring to this news story:
http://www.cchgroup.com/wordpress/index.php/tax-headlines/state-tax-headlines/new-york-personal-income-tax-electronic-filing-and-payment-mandate-announced-for-individual-taxpayers/

Interesting - but it looks like they will only require e-filing if you prepare your tax return using tax software. You still have the option to fill in the forms yourself and send them back the old fashioned way if you cannot e-file for any reason, or choose not to.

Now I'm done nitpicking for the day. 

Interesting - but it looks like they will only require e-filing if you prepare your tax return using tax software. You still have the option to fill in the forms yourself and send them back the old fashioned way if you cannot e-file for any reason, or choose not to.

Now I'm done nitpicking for the day. 

Yes .. it's funny how you have to read through the whole article to get to that important piece of information.  I always prepare my New York return the old fashioned way, paper & pencil then copy it over in ink, and fortunately it looks like I'll be able to continue. 

Back to the original subject I just heard from a client that BSA requires the use of IE for registration. I registered but cannot recall whether I used Chrome or IE. For those of you that resist electronic filing you can receive conformation that your paper filed returns were accepted using this procedure.

Ninety days after the date of filing, the filer can request verification that the FBAR was received. An FBAR filing verification request may be made by calling 800-800-2877 and selecting option 2. Up to five documents may be verified over the phone. There is no fee for this verification.
Alternatively, an FBAR filing verification request may be made in writing and must include the filer’s name, taxpayer identification number and the filing period. There is a $5 fee for verifying five or fewer FBARs and a $1 fee for each additional FBAR. A copy of the filed FBAR can be obtained at a cost of $0.15 per page. Check or money order should be made payable to the United States Treasury.
The request and payment should be mailed to:
IRS Enterprise Computing Center/Detroit
ATTN: Verification
P.O. Box 32063
Detroit, MI 48232
I hope this helps...

I have now successfully e-filed my FBAR. The system does require you to use IE and Adobe Reader, rather than any other browser or PDF viewer. However if you can live with those requirements, the system works relatively well and represents a nice improvement over paper filing.

One time-saving tip would be to make sure you save your completed form to your PC. When it comes time to submit the FBAR for 2012, you can load up your saved FBAR from 2011 and use it as a starting point. You'd then just make the changes necessary for 2012 and resubmit.

Back to the original subject I just heard from a client that BSA requires the use of IE for registration. I registered but cannot recall whether I used Chrome or IE.