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Level 1
posted Apr 23, 2025 3:23:41 PM

Answered foreign bank accounts question incorrectly (FBAR)

Do I need to amend my Schedule B if I answered "No" to foreign accounts, but I have no financial interest in the foreign accounts. I work for a financial company and I have the ability to release wires to some accounts held in foreign countries, so my company has to file an FBAR. I did not realize I was supposed to answer yes, as this was the first time that applied to me.

Do I need to amend Schedule B and send in an updated copy? Is there a way to do that in Turbo Tax if I do need to send an amendment in?

Thank you!

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1 Replies
Expert Alumni
Apr 23, 2025 3:29:18 PM

No.  The schedule B question asked if you had an interest in a foreign account.  Your access is not the same thing.

 

@Kat96y53g7