Suppressing the FinCEN Form 114 (FBAR) e-file

Show expandable text

New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

To suppress FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) (formerly Form TD F 90-22.1), do the following:

  1. Open the client's returns.
  2. Open Screen 114 in the Foreign Bank & Asset folder, or the Foreign Bank folder (990 returns).
  3. Enter X in one of the following fields.
    • All entities: FinCEN Form 114 has already been filed
    • 1040, 1120, and 990: Account owner is filing FinCEN Form 114
    • 1065: Authorized representative is separately filing FinCEN Form 114
    • 1041: Account owner is filing FBAR
  4. Check for and correct any electronic filing errors.
  5. Create the electronic file.
  6. Once the electronic file is successfully created, transmit the electronic file using CS Connect.

Notes 

  • Entering X in the FinCEN Form 114 has already been filed field will not suppress the FBAR electronic file if code M (Amended) is selected in the Amended or late filed form field in Screen 114. If Form 114 has been amended and the federal or state return will be electronically filed after that date, delete code M from the Amended or late filed form field, enter X in the Account owner is filing FinCEN Form 114 / Authorized representative is separately filing FinCEN Form 114 / Account owner is filing FBAR field, or clear the FinCEN Form 114 checkbox in the Print Options dialog when you create / print the electronic file. (To clear this checkbox, choose File > Print Returns, click the Options button, and clear the checkbox in the Selected Returns tab.)
  • To maintain account information for proforma without filing FinCEN Form 114, select code 4 (Do not report on any form, keep for proforma) from the Report account on Form(s) / Report account on Form 114 and/or Form 8938 field in Screen FrgnAcct. The account will not appear on either Form 114 or Form 8938, but will proforma to the following year.

Related topics

Was this article helpful?

Thank you for the feedback!