FBAR filing deadline extended for the fourth time for certain individuals having only signature authority 

January 15:  The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a notice further extending the filing date for Report of Foreign Bank and Financial Accounts (FBAR) for certain individuals who have only signature authority over certain foreign financial accounts to June 30, 2015.

FinCEN Notice 2013-1 [PDF 1.4 MB] provides a fourth extension to employees and officers of specified regulated entities—including U.S. publicly traded companies and financial institutions—who have only signature authority over, but no financial interest in, certain foreign financial accounts. As with prior FinCEN notices, this extension does not apply to foreign financial accounts in which the officer or employee has a financial interest or to personal accounts over which such individuals have signature or other authority.

In February 2012, Treasury previously extended the FBAR filing deadline for these officers and employees with signature authority to June 30, 2013. FinCEN Notice 2012-1 provided an extension of time to file to those persons previously granted an extension by FinCEN Notices 2011-1 and 2011-2. Read TaxNewsFlash-United States [PDF 36 KB]: Treasury further extends the FBAR filing deadline for certain individuals with signature authority to June 30, 2013

At the end of calendar year 2012, FinCEN released Notice 2012-2 to further extend the FBAR filing date for these eligible individuals to June 30, 2014. Read TaxNewsFlash-United States [PDF 62 KB]: FBAR filing deadline is again extended for certain individuals having only signature authority

All other U.S. persons required to file an FBAR this year (to report foreign financial accounts for calendar year 2013) are required to meet the June 30, 2014 filing date. Note that all FBAR filings must now be done electronically (the electronic version of the FBAR is FinCEN Report 114). Paper filings (Form TD F 90-22.1) will no longer be accepted by the IRS.

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