FBAR 114 FOR 2023

[HOPE2]

Hi to all.

Warm greeting to you after this tax season!

Client did not file her 2023 tax return and also she has a saving account in Canada over $10000.

Considering that its due date goes back to April 2024, is it still possible to file it now, yes!

I could not any area on Proseries to attach the reason of delinquent. 
Would the delay in filing Form 114 cause any issues for the client, and would they incur a penalty?

Thanks for your help.

[Norman2001]

From https://www.irs.gov/individuals/international-taxpayers/delinquent-fbar-submission-procedures#:~:tex...

The IRS will not impose a penalty for the failure to file the delinquent FBARs if you properly reported on your U.S. tax returns, and paid all tax on, the income from the foreign financial accounts reported on the delinquent FBARs, and you have not previously been contacted regarding an income tax examination or a request for delinquent returns for the years for which the delinquent FBARs are submitted.

Read the entire document. There are instructions to follow.

[TaxGuyBill]

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@HOPE2 wrote:

I could not any area on Proseries to attach the reason of delinquent. 

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Look for "Form 114, pg 1".