Friendly FBAR Reminder from FinCEN

The Financial Crimes Enforcement Network (FinCEN) just issued its announcement (“Announcement”) of the due date for filing the 2017 FinCEN Form 114, Report of Foreign Bank and Financial Accounts (the notorious “FBAR”), to report foreign financial accounts held in 2017. The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “Act”), changed the FBAR’s due date to April 15 to coincide with the due date for filing federal income tax returns. The FinCEN Announcement reiterated that the FBAR filing deadline will follow the Federal income tax due date guidance – when the Federal income tax due date falls on a Saturday, Sunday or legal holiday, the due date is delayed until the next business day. The Act also allowed an extension of the FBAR deadline for up to 6 months.  FinCEN’s Announcement reminded us that the 2017 FBAR due date is April 17, 2018, the same due date for individual federal…

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