ELF - All Entities: Registering with the BSA E-File System (FAQ)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

Question

Do I need to register with the BSA E-File System to file FBAR/FinCEN Form 114 through UltraTax CS?

Answer

Preparers do not need to register with the BSA E-Filing System to submit FinCEN Form 114 using UltraTax CS. Thomson Reuters is the transmitter in this scenario.

Preparers and taxpayers can submit FinCEN Form 114 directly with the BSA E-Filing System, if preferred. Use the printed Form 114 as a guide when entering the FBAR online. Enter X in the Account owner is filing FinCEN Form 114 / Authorized representative is separately filing FinCEN Form 114Account owner is filing FBAR field in Screen 114 in the Foreign Bank & Asset folder, or the Foreign Bank folder (990 returns) to suppress the FBAR electronic file.

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