FinCEN Form 114 (the Report of Foreign Bank and Financial Accounts, or FBAR) must be filed if you are a U.S. person with a financial interest in or signature authority over foreign financial accounts, and the aggregate maximum value of those accounts exceeds $10,000 at any point during the calendar year.
Syndicate Legal Advisory Services provides nationwide legal document preparation services for broker-dealer firms (as U.S. persons or entities) required to prepare a Report of Foreign Bank and Financial Accounts (FBAR) on FinCEN Form 114 under the Bank Secrecy Act. We prepare FinCEN Form 114 and related supporting materials solely based on the foreign account information, values, and specific instructions you provide.
Documents Commonly Prepared
We prepare a full range of documents associated with an FBAR filing, including but not limited to:
- FinCEN Form 114 (FBAR): Completion of the Report of Foreign Bank and Financial Accounts, including filer information, foreign financial institution details, account numbers, account types, maximum values during the year, and related sections, based on the account data you supply.
- Supporting Account Schedules: Formatting of lists or schedules of foreign accounts, maximum values, and related details from the information you provide.
- Related Supporting Materials: Organization of exhibits or attachments incorporating client-supplied account statements, valuation information, or other materials referenced in the filing.
- Internal Documentation: Formatting of internal summaries or supporting notes for the firm’s records, based on information you provide (note: record retention is the firm’s responsibility).
Documents are prepared for use in connection with electronic filings through the FinCEN BSA E-Filing System (subject to the information you provide). An FBAR is generally required if the broker-dealer (as a U.S. person) has a financial interest in or signature or other authority over one or more foreign financial accounts and the aggregate value of those accounts exceeded $10,000 at any time during the calendar year; filings are due by April 15 of the following year with an automatic extension to October 15; clients remain fully responsible for determining reportability (including financial interest, signature authority, and aggregate value calculations), the accuracy of the content, timely electronic filing via BSA E-Filing, retention of records, and compliance with all Bank Secrecy Act and FinCEN requirements.
