FBAR e-Filing
Effective July 1, 2013, FBARs must be filed electronically using the E-Filing System maintained by the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”). This mandatory electronic filing requirement applies to all FBARs, and to amendments of previously filed FBARs that are submitted by individuals or by entities on or after the effective date. The electronic FBAR is now known as "FinCEN 114"
To file the FBAR as an individual filer, you must personally and/or jointly own a reportable foreign financial account that requires the filing of an FBAR (FinCEN Report 114) for the reportable year. Filing is done via the internet either by use of a fillable pdf form or directly on the FinCen webpage, reached with the following link:
http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html
For institutional filers (banks and tax preparers), electronic reporting of foreign bank accounts is a two-step process.
First you register with the system using this link:
bsaefiling.fincen.treas.gov/Enroll.html
and then, when you've set up an on-line account, you can actually file your own FBAR or someone else's FBAR, if you're a tax consultant.
Instructions for filling out the electronic FBAR are here:
www.fincen.gov/forms/files/FBAR%20Line%20Item%20Filing%20Instructions.pdf
If, as a private individual, you don't want to or can't register with the system in order to file the FBAR electronically as is now required, you can authorize someone else, for example your tax adviser or your spouse, to do it for you. This is done by filling out form 114a, either as a pdf fillable form, or by hand on a printed copy. Form 114a is not a reporting document; it's just an authorization for someone else to report for you. Form 114a is available here:
www.fincen.gov/forms/files/FBARE-FileAuth114aRecordSP.pdf
The IRS held a "webinar" on June 4, 2014 devoted to the subject of the new electronic FBAR filing requirements. The video recording (about 1 hour) is visible here: "Reporting Foreign Financial Accounts on the Electronic FBAR"
See the following link for more information,
Foreign Bank and Financial Accounts (Taxpayer Advocate Service, May 2016)