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New Due Date and Extension for FBARs

January 9, 2017

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According to the U.S. Dept. of Treasury’s Financial Crimes Enforcement Network (FinCEN), the due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts has changed from June 30 to April 15. The new FBAR due date now coincides with the Federal income tax filing deadline. Filers who do not meet the FBAR annual due date of April 15 will now receive an automatic extension to October 15 each year – requests for an extension are not required.

NOTE: Because this year’s Federal income tax due date is April 18, 2017, the due date for FBAR filings for foreign financial accounts maintained during calendar year 2016 will be the same date. Any automatic extensions will be granted to October 16, 2017 because October 15 falls on a Sunday.

The announcement can be found here.

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

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