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PMADDI
Level 1

Filed with FBAR details but not reported FBAR

Hello Experts, 

Filed taxes with FBAR details for the year 2021. However, FBAR reporting (FinCEN Form 114) is not completed, and the due date was April 18.  Does this require amendment, just to report FBAR (FinCEN Form 114) after due date ?

1 Best answer

Accepted Solutions
rjs
Level 15
Level 15

Filed with FBAR details but not reported FBAR

If you did not file the FBAR by April 18, you get an automatic extension to October 15. You don't have to do anything to get the extension. You have until October 15 to file your FBAR.


The FBAR is filed separately from your income tax return. It is not part of your tax return, so you don't amend your tax return to file the FBAR. I'm not sure what you mean by filing "with FBAR details." Do you mean that you answered the questions about foreign accounts on Schedule B? There is nothing in those questions about when you file the FBAR. If you answered the questions correctly there is no reason to amend your tax return.


Go to the following link on the IRS web site for more information about FBAR filing.


Report of Foreign Bank and Financial Accounts (FBAR)

 

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2 Replies
rjs
Level 15
Level 15

Filed with FBAR details but not reported FBAR

If you did not file the FBAR by April 18, you get an automatic extension to October 15. You don't have to do anything to get the extension. You have until October 15 to file your FBAR.


The FBAR is filed separately from your income tax return. It is not part of your tax return, so you don't amend your tax return to file the FBAR. I'm not sure what you mean by filing "with FBAR details." Do you mean that you answered the questions about foreign accounts on Schedule B? There is nothing in those questions about when you file the FBAR. If you answered the questions correctly there is no reason to amend your tax return.


Go to the following link on the IRS web site for more information about FBAR filing.


Report of Foreign Bank and Financial Accounts (FBAR)

 

PMADDI
Level 1

Filed with FBAR details but not reported FBAR

Thank you for the clarification. I mean 1099-INT details including foreign bank interest amount.

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