The Financial Crimes Enforcement Network (FINCEN) announced this week that you can now file an FBAR (Form TD F 90-22.1) electronically.
Electronic filing of an FBAR is different than electronic filing for a tax return. You must complete an application, and download a special forms reader (used for transmitting the FBAR). Under FINCEN rules, tax professionals cannot file an FBAR on a client’s behalf.
And it appears that FINCEN is working on linking the FBAR to tax preparation software. Given the pace that government works, this is probably still at least a year away.
Note that you can still paper file your FBARs.
Tags: FBAR