FBAR filing deadline; relief for persons affected by recent natural disasters

FBAR filing deadline; relief for natural disasters

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) today issued a notice announcing that persons affected by the California wildfires, the Oregon wildfires, the Iowa derecho, and Hurricane Laura and Hurricane Sally have until December 31, 2020, to file the “Reports of Foreign Bank and Financial Accounts” (FBAR) for the 2019 calendar year.

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The FBAR for calendar year 2019 otherwise would be due on or before October 15, 2020.

As noted in today’s FinCEN notice [PDF 81 KB], this filing relief is being provided to persons in any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance as a result of the wildfires, storms or hurricanes.

In addition, FinCEN stated that it will work with any FBAR filer who lives outside the disaster areas and whose records that are required to meet the deadline are located in the affected areas.

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