Anyone know when the FBAR Form 114 will be released?

Forum|Forum|6 years ago
January 20, 2020
2 replies
20 views

I have a client who will be out of the country in Feb-Apr so I need to finish his FBAR report soon. Anyone know when Form 114 will be released? It's not shown on the Release Date webpage.

ProSeries Professional

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Best answer by George4Tacks

I do know that Lacerte has already released it. The 114 has the same due date as the 1040, including extensions, so just file an extension for the client by April 15.

George4TacksAnswer

Level 15

I do know that Lacerte has already released it. The 114 has the same due date as the 1040, including extensions, so just file an extension for the client by April 15.

Answers are easy. Questions are hard!

itonewbie

Level 15

@George4Tacks is correct that FBAR is due Apr 15 but may be extended under the same rules as income tax return to Oct 15. However, no extension needs to be filed as the FinCEN would grant the extension automatically each year to taxpayers who fail to meet the Apr 15 deadline in order "to implement the statute with minimal burden".

This has been the policy since the FBAR filing deadline was changed by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.

https://bsaefiling.fincen.treas.gov/FFBARHelp.html

---------------------------------------------------------------------------------Still an AllStar

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