The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a notice extending the filing date for the “Report of Foreign Bank and Financial Accounts (FBAR)” for certain individuals who have only signature or other authority over certain foreign financial accounts to April 15, 2019.
FinCEN Notice 2017-1 [PDF 36 KB] provides, for the eighth time, an extension to employees and officers of specified regulated entities—including U.S. publicly traded companies and financial institutions—who have only signature or other authority over, but no financial interest in, certain foreign financial accounts during the 2017 calendar year. The extension also applies with respect to reporting deadlines extended by previous FinCEN notices beginning in 2011.
This further extension is being granted because proposed regulations issued on March 10, 2016, which in part propose to revise the application of the filing requirements to U.S. individuals with signature or other authority over foreign financial accounts, have not yet been finalized.
For all other individuals with an FBAR filing obligation, the filing due date for calendar year 2017 FBARs remains April 15, 2018.
Background information was provided when the FinCEN last provided an FBAR extension in December 2016. Read TaxNewsFlash-United States
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