FBAR Only TQ - Does not ask income information

A FBAR (FinCEN 114) is a report sent to the US Treasury informing them of non-US financial accounts. To provide information for an FBAR, we ask that you answer YES to I have financial accounts outside  the U.S. during TQ creation, or by clicking Select my income types after the TQ is created.

For the years in which you may not need to file a tax return, but need to file an FBAR we created an FBAR only TQ. This is commonly needed during the streamlined procedure program, for the 3 older years. The FBAR only TQ includes fewer questions than a regular TQ and is not sufficient if you are in need of a tax return for this year. 

For this shortened TQ, we do not need your income information. We need:

  • The Basics - basic information about yourself and your family
  • Where I live - information regarding your place of residence
  • Non-US Financial accounts - your non-US financial information for FBAR processing.

To create a FBAR Only TQ, please select your Citizenship US Citizen or Green Card Holder, then answer Yes to Is this TQ FBAR only? question. 

If you want to have the FBAR prepared now and is going to provide tax return information later, please notify your accountant. If you will need to file a return for the year in question, you can revert back to a full TQ income questions & more. Click Settings icon at the top right, then switch off Is Fbar Only toggle.

Still need help? Contact Us Contact Us