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E-filing Form 114 (FBAR) in ProConnect Tax

SOLVEDby Intuit21Updated 2 weeks ago

The Report of Foreign Bank and Financial Accounts (FBAR), or FinCEN Form 114, is an annual report that usually must be filed on or before April 15. The 114 must be filed electronically and is transmitted separately from the federal tax return. Click on your return type below to view step-by-step instructions on e-filing the 114.

Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners, that is, the individuals who ultimately own or control the company. For more information see here.

If you receive an error message along the lines of "You currently don't have permissions to [action]. Contact your firm's Admin for authorization," either when trying to create new returns or when e-file roles have changed for tax year 2023, see here for how your firm Admin can resolve it.

  1. Go to the Profile tab.
  2. Check the Select for E-file box for Federal.
  3. Check the Select for E-file box for Federal Form 114 (Taxpayer).
  4. Go to the Input Return tab.
  5. On the left-side menu, select Miscellaneous Forms.
  6. Select Foreign Reporting (114, 8938) and choose Foreign Bank Account (114).
  7. Complete all of the applicable fields.
  8. Go to the File Return tab.
  9. Check the box for Federal Form 114 (Taxpayer).
  10. Clear any critical diagnostics.
  11. Click E-file.
    • If you need to file for the spouse, too, select Federal Form 114 (Spouse) for step 2 and complete the rest of the steps.
  1. Go to the Profile tab.
  2. Check the Select for E-file box for Federal.
  3. Check the Select for E-file box for Federal Form 114.
  4. Go to the Input Return tab.
  5. On the left-side menu, select Miscellaneous Forms.
  6. Select Foreign Reporting (114, 8938) and choose Foreign Bank Account (114).
  7. Complete all of the applicable fields.
  8. Go to the File Return tab.
  9. Check the box for Federal Form 114 only.
  10. Clear any critical diagnostics.
  11. Click the E-file button.

Common questions about e-filing Form 114:

The new annual due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts is April 15. This date change was mandated by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.

The Act also mandates a maximum six-month extension of the filing deadline. To implement the statute with minimal burden to the public and FinCEN, FinCEN will grant filers failing to meet the FBAR annual due date of April 15 an automatic extension to October 15 each year. Accordingly, specific requests for this extension are not required.

You can e-file Form 114 for 2023, 2022 and 2021. You may also submit Form 114 electronically online for all tax years via the BSA E-Filing System website. This website provides filers with the ability to enter the calendar year reported, including past years, when completing Form 114 online. It also offers the option to explain a late filing, or to select "Other" to enter a further explanation of the late filing or indicate whether the filing was made in conjunction with an IRS compliance program.

Form 114 is a separate e-filing type from the federal return, so it will be considered as a separate e-file and will not be e-filed with the Federal return.

Yes. The program supports e-filing of Form 114 Amended return in the Individual module.

There is no additional charge for e-filing Form 114. 

No. At this time, FinCEN doesn't allow PDF attachments.

Yes. An EFIN is required when filing Form 114. For additional information visit the FinCEN website. For further assistance when using the BSA E-filing website, you can contact the BSA E-Filing Help Desk at 1-866-346-9478.

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