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Screen 114 - Report of Foreign Bank Accounts (1065)
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Overview
note
Filing FinCEN Form 114 doesn't relieve you of the filing requirement to file Form 8938, Statement of Specified Foreign Financial Assets.
General and Filer Information
note
The application marks FinCEN Form 114 to print and creates the electronic file if any of the following are true:
- The maximum amount of any account is unknown and you leaveSuppress FinCEN Form 114 when total value of accounts is unknownblank.
- The maximum amount of all accounts is known and the total amount is greater than $10,000.
- The maximum amount of all accounts is known, the total amount of all accounts is $10,000 or less, and you markPrint FinCEN Form 114 when maximum value of accounts is $10,000 or lessin theReturn Presentationtab in theOther Return Optionswindow. To open this window, selectSetup, then1065 Partnership, and selectOther Return Options.
Number of foreign accounts with financial interest, if 25 or more (Force)
The application automatically counts the number of
FrgnAcct
screens reporting information for FinCEN Form 114 with code 2
or code 3
in Information reported for financial account
to determine the number of accounts in which the partnership holds a financial interest. Enter a number in this field to force the number the application calculates or if there are 25 or more accounts with financial interest and you didn't enter the account information in FrgnAcct
screen. If there are 25 or more accounts, FinCEN Form 114, Part I, line 14a answers Yes and the total number of accounts displays.note
If the number of foreign accounts with financial interest is 25 or more, FinCEN Form 114, Part II and Part III don't complete. Use
Complete Parts II and III if 25 or more foreign accounts with financial interest
to complete FinCEN Form 114, Part II and Part III even when not required.Number of foreign accounts with signature authority, if 25 or more (Force)
UltraTax CS automatically counts the number of
FrgnAcct
screens reporting information for FinCEN Form 114 with code 4
in Information reported for financial account
to determine the number of accounts in which the partnership has signature authority but no financial interest. Enter a number in this field to force the number UltraTax CS calculates. If there are 25 or more accounts, UltraTax CS answers Yes to FinCEN Form 114, Part I, line 14b and enters the total number of accounts.note
If the number of foreign accounts with signature authority but no financial interest is 25 or more, UltraTax CS doesn't complete FinCEN Form 114, Part IV, lines 15 through 23.
Complete Parts II and III if 25 or more foreign accounts with financial interest
Enter
X
to complete FinCEN Form 114, Part II and Part III when not required. By default, the application doesn't complete FinCEN Form 114, Part II or Part III when the filer has a financial interest in 25 or more foreign accounts.Suppress FinCEN Form 114 when total value of accounts is unknown
If the maximum amount for any account is unknown, the application automatically marks FinCEN Form 114 to print and creates the electronic file. Enter
X
to suppress FinCEN Form 114.Title of authorized representative, if different from Partner or LLC Member
Enter the title of the authorized representative filing FinCEN Form 114. If you leave this field blank and the return is a partnership, the title of the authorized representative defaults to "Partner." If you leave this field blank and the return is a limited liability company, it defaults to "LLC Member."
Signature date of authorized representative
Enter the date FinCEN Form 114 is electronically signed by the authorized representative.
note
The date entered in this field automatically transfers to FinCEN Form 114a. If this field is blank, the application uses today's date if
When Form 8879 (etc.) signature date(s) (Preparer and/or Client) are not entered: use current date
is marked in the Print Options
tab in the Office Configuration
window. To open the Print Options
tab, select Setup
, Office Configuration
, and select the Print Options
tab.FinCEN Form 114a signature status
Enter
1
if FinCEN Form 114a was signed (other than using eSignature) and returned or leave this field blank if a signature is needed. The application will automatically enter 2
(eSign sent), 3
(eSign failed), 4
(eSign declined), or 5
(eSigned) based on the current process status when using eSignature. You'll still use CS Connect to retrieve updated eSignature status and documents.The filing instructions use this information to determine what information appears in the signature section. Entry in this field automatically transfers to the
Signature Document
field in the Utilities
, Electronic Filing Status
window, and the option in the Electronic Filing Status
window transfers to this field.note
The application suppresses the printing of FinCEN Form 114a if you've received a signed copy of the form (options 1 or 5). Mark the
Always print Form 8879 (etc.), regardless of signature status
checkbox in the Print Options
tab in the Office Configuration
window. To open the Print Options
tab, select Setup
, Office Configuration
, and select the Print Options
tab.FinCEN Form 114 has already been filed
Enter
X
if you've already filed FinCEN Form 114. The application suppresses the creation of the electronic file. The application automatically marks this field when the FinCEN Form 114 electronic file is accepted.Authorized representative is separately filing FinCEN Form 114
Enter
X
if the authorized representative is filing FinCEN Form 114 using the BSA E-Filing System. The application suppresses the creation of the electronic file.Foreign identification of filer
Enter information in these fields to enter a foreign identification number for FinCEN Form 114, Part I, line 4. If you leave
Foreign identification of filer: Identification number
blank, the partnership's EIN will show as the taxpayer identification number in FinCEN Form 114, Part I, line 3.Other Information
BSA identifier of previously filed report
Enter the prior report BSA identifier in this field when amending a previously filed FinCEN Form 114. This field is required when amending. This number was assigned to the return by the BSA when the original version of FinCEN Form 114 was electronically filed. The application automatically completes this field when the FinCEN Form 114 electronic file is accepted.