How To File FBAR (FinCEN Form 114) - Step by Step Instructions

[searcher]

No experience with this and after watching the vid I'd think I have an accountant do it if necessary. 14 mins, 21 secs long.

How To File FBAR (FinCEN Form 114) For 2024 - Step By Step Instructions​

Mar 4, 2024

Follow me as I file my own FBAR (FinCEN Form 114) in 2024. I show step by step instructions on filing the FBAR (Form 114), how to calculate the maximum account value. You have to list the maximum values of your foreign bank accounts during the year as well as convert foreign balances into US Dollars. I recommend you do not do the PDF FBAR filing. Do the online filing instead as it is much simpler.



To start file FBAR yourself, start at the Financial Crimes Enforcement Network website: https://www.fincen.gov/

Or go directly to the BSA E- filing website: https://bsaefiling.fincen.treas.gov/N...

To get the 2023 currency conversion rates go to : https://fiscaldata.treasury.gov/datas...

 

[searcher]

How To File FBAR (FinCEN Form 114) For 2025 - Step By Step Instructions​

Feb 4, 2025
Follow me as I file my own FBAR (FinCEN Form 114) in 2025. I show step by step instructions on filing the FBAR (Form 114), how to calculate the maximum account value and where to get the official Treasury currency conversion rates for 2024. You have to list the maximum values of your foreign bank accounts during the year as well as convert foreign balances into US Dollars. I recommend you do not do the PDF FBAR filing. Do the online filing instead as it is much simpler.


30:56

00:00 Intro
01:30 What Is FBAR (FinCEN Form 114)
02:04 What Is IRS Form 8938
02:35 Who Has To File FBAR
03:15 What Is A Foreign Financial Account
07:35 What Is NOT Foreign Financial Account
08:37 Are Cryptocurrencies Like Bitcoin Included
10:17 How To Calculate The Max Value Or High Water Mark
16:03 How To Convert Foreign Currencies Into US Dollars
18:35 Filing My Own FBAR
19:49 Part 1: Filer Information
23:33 Part 2: For Single Filers
25:22 Part: 3 For Joint Filers/Married Couples
26:29 Part 4 Signature Authority But No Financial Interest In Accounts
27:05 Part 5 Filing A Consolidated Report
27:30 Signing And Submitting The FBAR
30:14 Conclusion

- Where To File FBAR : WWW.FINCEN.GOV
- Where To Get Foreign Exchange Rates: https://fiscaldata.treasury.gov/datas...
- Filing IRS Form 8938 • Form 8938: IRS Requirements And Step ...