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Screen FrgnAcct - Foreign Financial Accounts - Form 8938 and Form 114 (FBAR) (1065)

Overview

Financial Accounts Information

Use this section to enter financial account information for Forms 8938 and FinCEN Form 114. Use a separate screen for each foreign account.
Enter
1
 for Both Forms 8938 and 114,
2
 for Form 8938 only,
3
 for Form 114 only, and
4
 to retain the account information without reporting it on either Form 8938 or Form 114. Both Forms 8938 and FinCEN Form 114 calculate if you leave this field blank.
Enter the maximum value of the account during the calendar year.
Enter
D
 for Deposit or
C
 for Custodial. This field is applicable only to Form 8938.
Enter
1
 for Bank or
2
 for Securities. For all other types of accounts, leave this field blank and enter the other type of account description in the
Other type of account
 field. This field is applicable only to FinCEN Form 114.
Enter the description of the other type of foreign account. This information transfers from this field to FinCEN Form 114 only if the
Type of account
 field is blank. This field is applicable only to FinCEN Form 114.

Form 114 – Report of Foreign Bank Account (FBAR)

Enter
2
 for Part II, Owned separately,
3
 for Part III, Owned jointly, or
4
 for Part IV, Authority but no financial interest.

Form 8938 – Specified Foreign Financial Assets

Enter the currency exchange rate on the last day of the tax year. Use this rate even if the partnership sold or otherwise disposed of specified foreign financial assets before the last day of the tax year.
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