FINCEN Announces Due Dates for 2016 FBARs

The Financial Crimes Enforcement Network (FINCEN) announced the due dates for 2016 Report of Foreign Bank and Financial Accounts (FBAR, Form 114). The FBAR will now be due on the same day as tax returns with an automatic extension for six months. There is no need to file a separate extension with FINCEN for the FBAR. Basically, this means the FBAR is now effectively due on October 15th.

The new rule was required per an act passed by Congress last year. Kudos to FINCEN in implementing this in the simplest, easiest-to-comply version that was possible.

Tags:

Leave a Reply