Form 14653 (Streamlined Foreign Offshore Procedures)

[The Real Halloween]

TP will be filing form 14653 (Streamlined Foreign Offshore Procedures), it requires 3 years past (2018, 2017 and 2016) returns and 6 years FinCen114 (2018, 2017, 2016, 2015, 2014 and 2013).

However, the last time TP filed f1040 and FinCen 114 was tax year 2013, My first question is for f14653, can TP just file 5 years (2018, 2017, 2016, 2015 and 2014) FinCen114 instead of 6 years?

My second question is PTO just informed me that TP cannot efile FinCen 114 for tax year 2016 and earlier. Is there any other way to do efiling for those years?

Thanks for your time and comment.

[sjrcpa]

Late FinCen 114s can be filed at the FinCen website.

[The Real Halloween]

@sjrcpa I thought FinCen114 website is not to be used by practitioners.  Can you comment on this?  I would use this website for late filing of f114 if it is ok.  Thanks

[TaxGuyBill]

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@The Real Halloween wrote:

@sjrcpa I thought FinCen114 website is not to be used by practitioners.  Can you comment on this?  I would use this website for late filing of f114 if it is ok.  Thanks

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If you are a CPA or EA you can register as such and file it for the client.

https://www.fincen.gov/individuals-vs-cpa-attorney-and-paid-tax-preparers

If you are not, have the client come to your office and you can PROBABLY probably ASSIST him with setting up his own account and filling out the forms for him, then let him hit "submit".   😁

[The Real Halloween]

@TaxGuyBill @sjrcpa thanks to your advice.  I will go through the link.

Please also give me your comment on my 1st question: can TP just file 5 years (2018, 2017, 2016, 2015 and 2014) FinCen114 instead of 6 years? 

Thanks.

[TaxGuyBill]

On the form itself, the taxpayer is certifying that 6 years have been filed.  So unless the client want to commit perjury and void the validity of the form, 6 years are needed.

[The Real Halloween]

@TaxGuyBill Thanks again for your comment. I understand the 6 years validity but there was only 5 years outstanding f114.

The last time TP filed f1040 and FinCen 114 was tax year 2013,  therefore, there was only 5 years (2018, 2017, 2016, 2015 and 2014) FinCen114 instead of 6 years.  So is 5 years ok or need to refile f114 for the 2013 tax year?

[TaxGuyBill]

If the 6th year is already done, I can't imagine why it would need to be done again.  I would think the 5 years would be fine.

[The Real Halloween]

@TaxGuyBill Thanks for your latest comment.

As per your comment and form instructions, I was wondering how the taxpayer is going to certify that 6 years have been filed when we are only going to submit 5 years with f14653.   

Just want to make sure that TP does not get hit by committing perjury and therefore voiding  the validity of the form.  Did you ever encounter a situation of less than 5 years?  Your comment on this is very much appreciated.  Thanks.

[TaxGuyBill · Accepted solution]

I've never had to deal with that, but I don't see any problem.  As far as I can tell, you are just certifying that 6 years have been done, not that 6 years are being submitted with the form.  

I suppose that if the taxpayer has a copy of the 6th year you would include it for reference (mark it as "for reference only"  and "already filed, do not file again".   But I don't think that would be necessary.

[The Real Halloween]

@TaxGuyBill Thanks so much for your advice. Really appreciate it!