Taxpayers with foreign accounts whose aggregate value exceeded $10,000 at any time during 2013 must file a new form electronically with the U.S. Treasury Department by June 30, according to the IRS.
The Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts, replaces TD F 90-22.1. The form must be received by the Treasury Department on or before June 30, 2014, and no extensions are available. (See IR-2014-52.)
Form 114 must be filed electronically and is available only online through the BSA E-Filing System website (see bsaefiling.fincen.treas.gov/main.html). It is an informational reporting form, rather than a tax form.