Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Is there any reason not to file form 114 thru Pro-series or should I file directly via fincen.gov?

john5
Level 1
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
IRonMaN
Level 15

No


Slava Ukraini!

View solution in original post

0 Cheers
4 Comments 4
IRonMaN
Level 15

No


Slava Ukraini!
0 Cheers
sjrcpa
Level 15
Unless it is for a spouse where the couple file a joint return. Then use fincen.gov.
The more I know, the more I don't know.
0 Cheers
itonewbie
Level 15

Unless you run into problem filing through PS, you would normally not want to file directly with BSA.

The biggest advantages of filing direct is that BSA does all the validation for illegal characters before submission, it doesn't matter if the spouse is an NRA without ITIN or that your client only has signatory authority without any financial interest in the accounts reported, and you receive the acknowledgement often much quicker (instantaneous receipt and acknowledgement within 48 hours.  The primary drawback is that it only allows discrete filing, which means you have to e-file each FBAR one by one.

---------------------------------------------------------------------------------
Still an AllStar
0 Cheers
KeithinSanDimas
Level 2

So Pro Series supports efiling of the FinCen form 114?  Everytime I check on the efiling status it just says that the federal return has been accepted.

0 Cheers