FinCEN Says Foreign Financial Accounts Can Be Reported Electronically

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The Financial Crimes Enforcement Network announces that taxpayers now can electronically file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts. The news comes at a time when many taxpayers have asked IRS to be able to file the form online as the government continues to press for reporting of foreign accounts. FinCEN says at the present time, it can only accept FBAR filings where one signature is required. Therefore, spouses who jointly own accounts must file separate FBARs in order to file electronically, the agency says.