FBAR/Fincen114/renouncing

mikec2 · Post by **mikec2** » Thu Jan 28, 2016 1:04 pm

I am trying to figure out how to fill in the FinCen114 form for 2015. I renounced US citizenship during 2015. I have done these forms in the past, but not sure how to do it for this case.

- maximum amounts, seems to me this should be the maximum amount from the start of the year up to the date of renunciation, not to the end of the year, when no longer a citizen. Which is correct?

- US$ exchange rate - similar question, it seems that the exchange rate at the date of renunciation would be more correct than they year end rate?

- new accounts opened during 2015 but after the date of renunciation - seems to me this should not be reported?

Thanks for any guidance, i have looked online but not found any conclusive info on this.

nelsona · Post by **nelsona** » Thu Jan 28, 2016 2:47 pm

I agree that your FinCEN reporting period should only include the portion for which you are filing a 1040. Of course, if you've chosen to file full-year 9which you are still entitled to do), then it should include all accounts for the year.

I think you can figure out how to get the maximum value for this period, although accuracy this is not really critical.