BOI Reporting in ProSeries or FinCen.gov

[ea_rva aka acctgtaxmatters]

Hello, 

I can't get ProSeries to produce a Form 114 without an error on line 15 "maximum value of account during calendar year" when I put $0.

I get it, since clients don't a have foreign bank account it will show this error.

Does ProSeries support the filing of Form 114 for BOI purposes?

[TaxGuyBill · Accepted solution]

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@ea_rva aka acctgtaxmatters wrote:

Does ProSeries support the filing of Form 114 for BOI purposes?

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Form 114 is for FBAR, not BOI.  Both are through FinCen, but they are two completely different things.

If you need to register for BOI, ProSeries does not have that ability.  It is easy to do directly through the FinCen website.

[Just-Lisa-Now-]

If the account has zero money in it, does it need to be reported? 

Maybe just check the bot below it that says Amount unknown?

[ea_rva aka acctgtaxmatters]

Thank you both for the replies - I was way off track on this one!

I am going to send out a communication providing the info clients need to self file.