FBAR and 1040NR

The Form 1040NR, US Nonresident Alien Income Tax Return is due by June 15th for the year ended 12/31/2013 for all nonresidents that have reportable and taxable income sourced in the U.S. during 2013.

If a U.S. person has a financial interest in or signature authority over a foreign financial account exceeding certain thresholds a Report of Foreign Bank and Financial Accounts (FBAR) must be filed.  

  • The Financial Crimes Enforcement Network (FinCEN) has created a new form FinCEN Form 114, Report of Foreign Bank and Financial Accounts is the replacement for the previous FBAR Form TD F 90-22.1.
  • FinCEN Form 114 must be filed electronically and is only available online through the BSA E-filing system website.
  • The filing deadline is June 30, 2014 for the year ended 12/31/2013
  • FinCEN notice 2013-1 has extended the due date for filing FBARs by certain individuals with signature authority over, but no financial interest in, foreign financial accounts of their employer or a closely related entity, to June 30, 2015.

If you are a U.S. person or foreign individual that may require these filings, please call us to help you prepare and report the required forms