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Saturday, June 18, 2016

FBAR (FATCA) 2015

Please read the disclaimer first.

Yes, you have to file the FBAR every year.  :(

Again, filing can be done electronically through the FinCEN (Financial Crimes Enforcement Network) system.  And again, you must file by June 30, 2016.

I tried the PDF form this year.  This is actually more convenient, since you won't forget to save a copy to your PC.  :)

FYI, the exchange rate for Japanese YEN was 120.4200 for 2015.





Click on "Start Now" in the Online Form box.


Click on "Prepare FBAR".


Save the "NFFBAR.pdf" file to your PC.  Of course, you will need Acrobat Reader to open the file.



Open up the PDF file.


Depending on your security settings, you may see this warning message from Acrobat.  Press "OK" to proceed.



The rest is mostly the same as the online form.


Enter a filing name.  I just used my name and year.


Enter your information.


All of your account information.  Most of this didn't change since last year, so it was mostly copy and paste.  :)



Once all of that's done, you need to sign the form.


Unfortunately, you have to scroll all the way up.  Or press Ctrl + Home.



Signing is just a matter of clicking "Agree" on this pop-up that says, "I acknowledge that I am electronically signing the BSA report."



Before you can submit the file, you must save it.


Click on "Save".



Gives you a nice explanation, so click "OK".



Enter your file name and click "Save".



Now, you can click "Ready to File".



You will get another pop-up warning.  Click "Allow" only if it is trying to connect to the government site.  (https://bsasefiling1.fincen.treas.gov)



It will take you to the upload site, so enter your information, choose the file, and click "Submit".


Print out or note your confirmation.





You should also get an e-mail shortly.



All of this took me less than 40 minutes, because I already had my account information looked up.  :)

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