FBAR only filing software

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#1
caj111  
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3
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20-May-2024 10:04am
Location:
Midwest
Hello everyone,

This is a great forum! I hope I can contribute to it as much as I get out of it.

I have my first question. I recently switched tax preparation software and have been happy with what my use and find it more cost-effective than my previous software and support is better. There is one thing I didn't think about when I changed, perhaps because it isn't a big part of my business - FBAR filing. My old software came with FBAR filing whereas my new software does not. I don't have that many clients that require an FBAR but for the ones that do it is sufficiently annoying to have to enter everything from scratch on the FINCEN website and file that way. I would like FBAR only software where I can store clients' information and not have to re-enter every year and file the handful of FBAR returns I file more easily, similar to the separate online 1099 filing software I use that is separate from my tax preparation program (client information is stored there and I just enter the 1099 numbers every year for the small numbers of 1099s I prepare).

Anyone know of anything?

Thanks in advance,

Chris Johnson EA
 

#2
Webster  
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320
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5-Nov-2015 5:05pm
Location:
On TPT, of course
I believe they can be filed via the BSA system. https://bsaefiling.fincen.treas.gov/SupportedForms.html It's been a few years since I did it that way, so I don't have much more than that.
 

#3
caj111  
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3
Joined:
20-May-2024 10:04am
Location:
Midwest
Thanks Webster. Just wish there was some FBAR software out there where I could store my clients' info because my new regular tax prep software doesn't have FBAR compliance.
 

#4
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3836
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21-Apr-2014 11:24am
Location:
North Carolina
Hmm. I wonder if Drake Zero or Intuit ProConnect Online allows filing of FBAR? Those are online and strictly pay-per-return. If either of them do file FBAR, that may be a cost-effective way of filing instead of having to use the FinCEN website. I know from my own experience that using the FinCEN website takes much longer than it should.
 

#5
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2708
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24-Jan-2019 2:16pm
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North Shore, Oahu
You can be a 3rd party BSA filer with FINCEN directly, you just need to make an account with them as a professional filer.

At least that was true a few years ago.

It's not as convenient as using tax software, but it's easy enough.

PS: Drake tax software facilitates FBAR filing.
 

#6
s054  
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85
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4-Jun-2020 3:15am
Location:
Jerusalem, Israel
I file FBARs all the time through the BSA system - my tax prep software does not offer direct filing.

To make things easier, I copy and paste the file each year for each client, to the next year, and only change the amounts. It's easy enough.

Which softwares do offer FBAR filing?
 

#7
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3836
Joined:
21-Apr-2014 11:24am
Location:
North Carolina
Drake does. Very simple to do. Only thing is, you have to file income tax returns then flag it to file FBAR. once you’ve done a couple it becomes quite simple.
 

#8
s054  
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85
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4-Jun-2020 3:15am
Location:
Jerusalem, Israel
ProSeries has this as well. But FBAR filing capability should not be a make it or break it thing to look at; if you don't need software which will be much more expensive, it's not worth it.
 


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