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 access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

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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