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United States – FinCEN Notice 2017-1 Extends FBAR Filing Date for Some

US – FinCEN Notice Extends FBAR Filing Date for Some

This report covers the eighth time the U.S. Financial Crimes Enforcement Network has extended the FBAR filing date for certain individuals.


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The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a notice extending to April 15, 2019, 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.1


This extension may provide welcome relief for affected parties who may have had to prepare an FBAR this year.  This extension relieves them of that obligation this year. 

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FinCEN Notice 2017-1 provides, for the eighth time2, 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.  However, note that all filers automatically receive a six-month extension of time to file their FBAR.  Thus, no action by an FBAR filer is required to receive the extension of time to file.  This effectively moves the FBAR due date to October 15, 2018.


1  For FinCEN Notice 2017-1, click here (PDF 35.7 KB).

2  For prior coverage of a deadline extension for the FBAR, see GMS Flash Alert 2016-150 (December 21, 2016). 

CEO Pay Ratio Webcast - February 6 (2:00 PM - 3:00 PM EST (GMT -5))

The GMS Global Reward Services (GRS) team is hosting a webcast on February 6 on the CEO pay ratio. With many companies having to disclose the CEO pay ratio as part of their annual prospectus, there has been much discussion on this topic as well as consideration of various approaches as companies finalize numbers for disclosure. The webcast will cover the following topics:

  • Common concerns about the new disclosure requirement
  • External vs. internal communication strategies
  • Corporate taxes that are being assessed by U.S. states on the CEO pay ratio.

The above information is not intended to be "written advice concerning one or more Federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230 as the content of this document is issued for general informational purposes only.

The information contained in this newsletter was submitted by the KPMG International member firm in the United States.

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