Webcast: Report of Foreign Bank and Financial Accounts (XSFOR217)
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If a client has a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account exceeding certain thresholds, the Bank Secrecy Act may require that taxpayer to report the account yearly to the Department of Treasury. This is done by electronically filing a Financial Crimes Enforcement Network (FinCEN) 114, Report of Foreign Bank and Financial Accounts (FBAR). This program

 Export to Your Calendar 8/17/2017
When: 08/17/2017
12:00 PM until 2:00 PM
Where: Webcast
SURGENT
FOR2-2017-01-WEBNR-229-01
United States
Presenter: Mike Tucker, Ph.D., LL.M., J.D., CPA


Online registration is available until: 8/15/2017
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Acronym XSFOR217
CPE 2 hours
Vendor Surgent
Category
Taxation
Level Intermediate
Prerequisite Basic understanding of individual income tax rules
Adv Prep None
Yellow Book? No
Designed for Tax professionals advising clients with respect to foreign asset and foreign account reporting
Registration
Member $89
CPA Non-Member $114

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

If a client has a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account exceeding certain thresholds, the Bank Secrecy Act may require that taxpayer to report the account yearly to the Department of Treasury. This is done by electronically filing a Financial Crimes Enforcement Network (FinCEN) 114, Report of Foreign Bank and Financial Accounts (FBAR). This program discusses all aspects of FBAR reporting, including delinquent reporting issues and the Offshore Voluntary Disclosure Program.

Objectives

  • Ability to complete FinCen Form 114
  • Be able to advise clients with respect to foreign bank and financial asset  required reporting

Topics

  • New filing date for FinCen Form 114
  • Individuals required to file FinCen Form 114
  • Reporting thresholds for FinCen Form 114
  • Penalties for failure to file a required FinCen Form 114
  • Offshore Voluntary Disclosure Program
  • Delinquent FBAR Submission Procedures
  • Other foreign activity reporting including foreign trusts, partnerships interests, and investments in foreign corporations