# FBAR Questions



## Meepmeepy

Hey guys,

Just a few very quick FBAR questions.

1/ The deadline THIS year is still June 30th correct? For accounts from 2015. Next year it changes to April 15th?

2/ I assume foreign paypal accounts count as bank accounts?

3/ Do joint accounts in both my US citzen spouses and my name count towards the $10,000 total.

Thanks, just want to make sure we get everything correct.


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## Bevdeforges

From the horse's, um, "mouth" - the IRS website, at any event:



> Note: The recently enacted Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 changes the standard FBAR due date to April 15 beginning with the 2016 calendar year reports, which are due in 2017. The FBAR deadline for calendar year 2015 reports remains June 30, 2016 (with no extensions allowed).


For more information: https://www.irs.gov/Businesses/Smal...t-of-Foreign-Bank-and-Financial-Accounts-FBAR
Cheers,
Bev


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## Meepmeepy

Bevdeforges said:


> From the horse's, um, "mouth" - the IRS website, at any event:
> 
> 
> 
> For more information: https://www.irs.gov/Businesses/Smal...t-of-Foreign-Bank-and-Financial-Accounts-FBAR
> Cheers,
> Bev


Fantastic.

If anyone else could shed light on my other questions that would be wonderful.


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## BBCWatcher

Yes to all three questions.


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## honeybee89

*Correct bank name and address on FBAR*

I also have two FBAR questions and can't see the option to start a new thread, so I thought I would try to post them here. 
1.) Regarding the postal address of the bank, are people listing the national bank headquarters or the address of the local bank branch where the account was opened (in my case the local address is listed on all the statements and account opening paperwork and only that branch is allowed to work on my account)? My old branch closed and I will have to enter a new address this year, but I don't know if the new branch or the headquarters is considered more correct. 
2.) In naming the financial institution my bank statements have the bank name only on the top of them, but the headquarter bank addresses in Germany have "AG" tacked onto the end, which means corporation in english. Is that necessary to include, and is it recommendable to include it now when I haven't in the past? 
Ugh. Annoying details! Thanks for any insight.


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## BBCWatcher

1. Use your good judgment. In some countries (e.g. Japan) the branch location is critical since the 7 digit account number isn't meaningful or unique without the branch name.

2. It doesn't matter.


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## Pro.wolf

Has anyone file an FBAR amendment? 
I used a CPA for my streamline process and they completed the FBAR for me, I just got copies of what they filed electronically and I have found discrepancies in how the accounts were report - all account ate there but one account in particular was reported as own bank account one year (correct report) but in the report for next year was reported as signature authority (completely lack of attention to detail, data entry accuracy)


I have sent them an email but I this point, I feel I will need to pay another CPA to fix the mess this cosmonauts has made (is a list of things I have questioned after reading some of the posts here) and because is an online company they are not answering as fast as before (maybe because my credit card has already been billed)

Not sure what to do at this point


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## BBCWatcher

I filed an amended FinCEN Form 114 once before. You use the BSA reference number to re-file, so the amended report gets linked to the original filing. You have to wait until Treasury's system completes all processing of the original submission; that takes a couple days.


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## Bevdeforges

honeybee89 said:


> I also have two FBAR questions and can't see the option to start a new thread, so I thought I would try to post them here.
> 1.) Regarding the postal address of the bank, are people listing the national bank headquarters or the address of the local bank branch where the account was opened (in my case the local address is listed on all the statements and account opening paperwork and only that branch is allowed to work on my account)? My old branch closed and I will have to enter a new address this year, but I don't know if the new branch or the headquarters is considered more correct.
> 2.) In naming the financial institution my bank statements have the bank name only on the top of them, but the headquarter bank addresses in Germany have "AG" tacked onto the end, which means corporation in english. Is that necessary to include, and is it recommendable to include it now when I haven't in the past?
> Ugh. Annoying details! Thanks for any insight.


Seriously, there is no single "correct" answer. Give them the bank name and address as you have it. If they have a problem with what you've given them, they'll be in touch for more information. (Has happened to me once. No biggie. You just write the answer to their question on the form they send you and mail it back.)
Cheers,
Bev


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## Bevdeforges

Pro.wolf said:


> Has anyone file an FBAR amendment?
> I used a CPA for my streamline process and they completed the FBAR for me, I just got copies of what they filed electronically and I have found discrepancies in how the accounts were report - all account ate there but one account in particular was reported as own bank account one year (correct report) but in the report for next year was reported as signature authority (completely lack of attention to detail, data entry accuracy)
> 
> 
> I have sent them an email but I this point, I feel I will need to pay another CPA to fix the mess this cosmonauts has made (is a list of things I have questioned after reading some of the posts here) and because is an online company they are not answering as fast as before (maybe because my credit card has already been billed)
> 
> Not sure what to do at this point


Again, it may or may not be worthwhile to "amend" if the discrepancies are no more than nominal. You can simply correct the classification the next time you file. The key thing is that the accounts are reported. If they have questions, they'll be in touch and you can explain - however there is little evidence to show that they do much comparison from one year to the next unless something "odd" turns up in your tax returns.
Cheers,
Bev


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