client filed form 114

[INGIT]

client already filed their own form 114 - do i answer yes or no on sched b part 7a

[sjrcpa]

Yes

[Just-Lisa-Now-]

Just answer the questions.

You may have some 8938 requirements as well....did they give you  a copy of the 114 they filed?

Ive got a client with oodles of money in Korea, he files his own FBAR and sends me the copy so I can do the 8938

[INGIT]

Thanks Lisa - I know about the 8938 requirement and already did that one - i get it. 

Client gave me two emails (two accounts) from cm.bsaefiling@fincen/gov acknowledging receipt of submission w/BSA Identifier number xxxx  ...  not an actual copy of the Form 114. 

If I click 'yes' on B III 7a Form 114 defaults me as preparing and filing the 114 - which doesn't seem right to me. 

[Just-Lisa-Now- · Accepted solution]

I mark 7a yes and 7b yes and input the country code, but I dont activate the 114 within ProSeries.

[INGIT]

Follow up question to 'client submits own Form 114'.  Do I need to attach copy of clients 114 (or in my case email of acknowledgement from Treasury) to clients return? 

I think 'not' - but want to be sure.  Doing my Due Diligence.  thanks

[Just-Lisa-Now-]

No attachment needed.

[sjrcpa]

Even if you did prepare the FinCen 114 it doesn't go with the 1040. It's a separate filing.

[INGIT]

Thanks.  My understanding is that 'if' the 114 is prepared by me it is attached to the 1040, and  forwarded to Treasury by IRS.  ? 

[INGIT]

As I thought.

[Just-Lisa-Now-]

If you had prepared it, it would be a separate filing, it still wouldnt be attached to the 1040.

[INGIT]

You are correct - thanks