June 30 FBAR Filing Deadline Approaches

U.S. persons with financial interests in, or signature authority over, foreign financial accounts must file an FBAR (FinCEN Form 114) by June 30 if the value of their foreign financial accounts, in the aggregate, exceeded $10,000 at any time during the previous calendar year. Foreign financial accounts include securities, brokerage, savings, checking and deposit accounts that are maintained with a financial institution, as well as commodity futures or options accounts, certain insurance policies, and shares in a mutual fund or similar pooled fund, if the account, in each case, is located outside the United States.

The FBAR filing deadline for the 2014 calendar year is June 30, 2015. All filing is electronic and no extensions are allowed.