Slide 1 FastFacts Feature Presentation 02/07/2014 To dial in, use this phone number and participant code… Phone number: 888-651-5908 Participant code:

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Presentation transcript:

Slide 1 FastFacts Feature Presentation 02/07/2014 To dial in, use this phone number and participant code… Phone number: Participant code: To participate via VoIP… You must have a sound card You must have headphones or computer speakers © 2012 The Johns Hopkins University. All rights reserved.

Slide 2 Today’s Topic We’ll be taking a look at… How to Complete the FBAR Online

Slide 3 Today’s Presenter Margaret Nock Treasury Associate Office of the Treasurer Contact:

Slide 4 Session Segments Presentation Margaret will explain the BSA E-Filing system and the importance of filing the FBAR online. During Margaret’s presentation, your phone will be muted. Q&A After the presentation, we’ll hold a Q&A session. We’ll open up the phone lines, and you’ll be able to ask questions. Margaret will answer as many of your questions as time allows.

Slide 5 Contact Us If you would like to submit a question during the presentation or if you’re having technical difficulties, you can us at: You can also send us an instant message! GoogleTalk – AOL Instant Messenger – HopkinsFastFacts MSN –

Slide 6 Survey At the end of this FastFacts session, we’ll ask you to complete a short survey. Your honest comments will help us to enhance and improve future FastFacts sessions.

Slide 7 How To View Full Screen Click Here

Slide 8 How to Complete the FBAR Online

Slide 9 Agenda After today’s presentation you will be able to: Establish the purpose and importance of filing an FBAR (Report of Foreign Bank and Financial Accounts) Describe the BSA E-Filing enrollment process Demonstrate how to correctly complete and submit the FBAR form

Slide 10 Who Are We… And What Do We Do? Treasury Operations Treasury Operations is responsible for managing both domestic and international banking for the university. Treasury Operations is also responsible for managing the daily and short term cash needs. Treasury Operations also includes Cash Accounting. They are responsible for posting incoming checks, wires, and ACH payments to SAP.

Slide 11 What? Who? Why? What is an FBAR (Report of Foreign Bank and Financial Accounts)? Annual reporting for persons who have a financial interest in or signature authority over a foreign financial account (including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account) that exceeds certain thresholds. Who must file an FBAR? United States persons are required to file an FBAR if: The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported. Is E-filing mandatory? Yes, effective July 1, In an effort to improve efficiency, reduce government and industry costs, and allow the Financial Crimes Enforcement Network (FinCEN), law enforcement, and regulators to gain better and timelier access to important financial information, the FinCEN is requiring the electronic filing of certain reports.

Slide 12 E-Filing Enrollment Process The Office of the Treasurer serves as the administrator of the BSA E-Filing System.. As a filer, you are responsible for activating your account once enrollment has occurred. Once enrolled, you will receive an from BSA E-Filing with the subject line: BSA E-Filing New User ID. This will contain the new User ID ( address of the filer) and a link to instructions for activation. Once you’ve activated your User ID, an is automatically sent to the Office of the Treasurer confirming the activation. The Office of the Treasurer will then assign the FBAR filer role required for you to begin use of the system.

Slide 13 Double-click the FBAR PDF to Print

Slide 14 BSA E-Filing – Frequently Asked Questions Who can help me with completing my FBAR online? You can call the FBAR Help Desk at They are available Monday through Friday, 8:00 a.m. to 4:30 p.m. Eastern Standard Time. Questions can also be sent to the FBAR Help Desk at Can I reset my own password? Yes, you can. However, if you have made too many unsuccessful password attempts, you will be locked out of the system. If you are locked out of the system, you must call the BSA E-filing Technical Help Desk at to be reset. They are available Monday through Friday, 8:00 a.m. to 6:00 p.m. Eastern Standard Time. Questions can also be sent to the BSA E-Filing Help Desk at

Slide 15 BSA E-Filing – Frequently Asked Questions (Continued) What are the technical requirements to use BSA E-Filing? A computer and Internet browser are required. The platform required for use is Windows XP Professional with Service Pack 2 or 3, Windows 7 Service Pack 1 or later, or Windows 8. You must also have Adobe Reader 9.5 or higher (Adobe X or XI). There is no cost to download, install, or use the Adobe Reader software. Adobe Reader system requirements include Internet Explorer 8.0 or higher, Firefox or higher, or Chrome 25 or higher. I have a MAC computer. Is it compatible for use with the site? No, unfortunately MAC computers are not compatible.

Slide 16 BSA E-Filing – Frequently Asked Questions (Continued) Can I submit a printed version of the electronic Bank Secrecy Act (BSA) E-Filing BSA Form to FinCen? No. FinCen will not accept printed versions of the forms produced by BSA E-filing. This type of submission does not meet the reporting requirements under Title 31, part 103 of the Bank Secrecy Act. Is there a penalty if I don’t file? Yes, there is. Failure to file may result in a civil penalty not to exceed $10,000. A person who willfully fails to report an account’s identifying information may be subject to a penalty equal to or greater than $10,000, or 50% of the balance of the account at the time of the violation.

Slide 17 Conclusion The BSA E-Filing of forms is… Faster Convenient Secure Cost-effective

Slide 18 We’re going to open the phone lines now! There will be a slight pause, and then a recorded voice will provide instructions on how to ask questions over this conference call line. We’ll be answering questions in the order that we receive them. We’ll also be answering the questions that were ed to us during the presentation. If there’s a question that we can’t answer, we’ll do some research after this session, and then the answer to all participants. Q&A

Slide 19 Thank You! Thank you for participating! We would love to hear from you. Are there certain topics that you would like us to cover in future FastFacts sessions? Would you like to be a FastFacts presenter? Please us at:

Slide 20 Survey Before we close, please take the time to complete a short survey. Your feedback will help us as we plan future FastFacts sessions. Click this link to access the survey… Thanks again!

Slide 21 Resources The page contains a link to a resource mentioned throughout this presentation. You can click the link or copy and paste the link into your web browser. Employed/Report-of-Foreign-Bank-and-Financial-Accounts-FBAR