Form 114 (FinCEN), Report of Foreign Bank and Accounts
This form's required when the partnership has a financial interest in, or signature authority of, any financial accounts (bank, securities, or other) in a foreign country, if the aggregate value of these accounts exceeds $10,000 at any time during the year. You don't file the form with the tax return.
important
To generate a report, you must enter the title of the person signing the form.
Data entry's completed in
Organizer
, Foreign Information
, Foreign Bank Account
, FinCen
. If the accounts are jointly owned by one other party, you may enter the party's tax identification number and name. If there's more than one joint owner of these accounts, just enter the numbers of the joint owners and leave the remaining items in Part I blank.
Enter the total number of accounts and other information for each financial account if the partnership had financial interest in at least one but fewer than 25 foreign accounts required to be reported, and the total maximum value of all the accounts that exceeded $10,000 during the year.
If there are 25 or more accounts, you need not complete Part II after listing the number of accounts. You are, however, required to furnish the applicable information when requested to do so by the Department of Treasury.
