2013 Foreign Bank Account Reports Due June 30, 2014 – New FinCEN Form 114 and Mandatory E-Filing

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The U.S. Financial Crimes Enforcement Network (FinCEN) Form 114 is the Report of Foreign Bank and Financial Accounts. The FinCEN Form 114 is commonly referred to as the “FBAR,” which replaces the prior Form TD F 90-22.1. A U.S. person must file an FBAR if the U.S. person has a financial interest or signature authority over foreign financial accounts and the aggregate highest balance or value of all reportable foreign accounts exceeds $10,000 during the calendar year. The due date for the 2013 FBAR is Monday, June 30, 2014. The due date of the FBAR cannot …read more

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