FinCEN Extends FBAR Deadline Further for Certain Financial Professionals

The Financial Crimes Enforcement Network ("FinCEN") announced a further extension of time for certain individuals filing a Report of Foreign Bank and Financial Accounts ("FBAR").

On December 20, 2013, FinCEN extended the filing date for Form 114 – FBAR (formerly Form TD-F 90-22.1) for certain individuals with signature authority over, but no financial interest in, one or more foreign financial accounts until June 30, 2015. In response to this extension, FinCEN received questions that required additional consideration as to possible regulatory changes.

For that reason, FinCEN extended the filing due date again for individuals whose filing due date for reporting signature authority was previously extended to June 30, 2016. For all other individuals with an FBAR filing obligation, the filing due date remains unchanged.

See: FinCEN Notice 2014-1.