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Form 114

Davelias
Level 3

Is there a workaround for the Form 114 Zero balance account error? The system says to check the account unknown box in order to e-file the form. Client is concerned about possible ramifications from FinCen. 

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1 Comment 1
TaxGuyBill
Level 15

Possible options:

  • Ignore the error and disable error-checking when e-filing it.
  • Enter $1.
  • Check the unknown box.  FinCen is really only concerned about hiding money and accounts.