A recent dramatic increase in the amount of data enabled a new approach to empirical modeling of magnetospheric currents. In this approach, the custom‐tailored modules prescribing the configuration of currents are replaced by basis function expansions. Here we show that the extension of this approach to field‐aligned currents allows one to reproduce the spiral structure of the low‐altitude field‐aligned currents corresponding to the Harang reversal on the nightside. The new empirical geomagnetic field model is applied to the 14 November 2012 magnetic storm. The current structure and evolution is studied in the equatorial plane, at low altitude and in 3D. This study shows that the main factor of the storm‐time asymmetry of the magnetosphere, in addition to natural stretching of its magnetic field lines from day to night under the direct interaction with the solar wind, is the partial ring current located in the evening sector. It also reveals a new interesting effect of the bifurcation of currents flowing away from ionosphere in the evening sector, which form a continuous pattern at low altitudes corresponding to the Harang reversal, but farther in the magnetosphere split and join either the ring current or magnetopause currents.