FBAR filing deadline is again extended for certain individuals having only signature authority 

January 4: 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) Form TD F 90-22.1, for certain individuals who have only signature authority over certain foreign financial accounts to June 30, 2014.

FinCEN Notice 2012-2 [PDF 13 KB] provides an 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. The FinCEN Notice 2012-2 indicates that this further extension is being provided in light of ongoing consideration of questions regarding the filing requirement and its application to individuals with signature authority.


In February 2012, Treasury previously extended the FBAR filing deadline for these officers and employees with signature authority to June 30, 2013. See TaxNewsFlash-United States: Treasury further extends the FBAR filing deadline for certain individuals with signature authority to June 30, 2013


With FinCEN Notice 2012-2, the FBAR filing date for these eligible individuals is extended further from June 30, 2013, to June 30, 2014. 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.


All other U.S. persons required to file an FBAR this year are required to meet the June 30, 2013 filing date. Unlike federal income tax returns, extensions of time to file FBARs are generally not available.




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