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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2863
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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IRS Form FBAR FinCEN 114 he situation is I have a foreign

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IRS Form FBAR FinCEN 114
he situation is I have a foreign account but it is for my business. It was there just as a flow in the middle to pay the foreign suppliers. It is just a regular foreign checking account under my name. My business was a sole owner small business and not easy to open a business account in the designated country at the time. The questions is
so I believe it should be under "No Financial Interest Account Information." section ?
if yes, can the filler and account owner be the same in this case and what to put in Line #43 "Filer's title with this owner" ? (thinking of "Self")
Thanks
Submitted: 10 months ago.
Category: Tax
Expert:  Barbara replied 10 months ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Because you are the owner of the foreign account, you would file FinCEN Form 114 if the balance in the account was over $10,000 at any time during 2015.

Leave Line #43 blank.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Expert:  Barbara replied 9 months ago.

Just following up with you to see if you have any other questions. If so, please come back to me here, and I will be happy to assist you further.

Best regards,

Barb

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