Report of Foreign Bank and Financial Accounts (FBAR) Due Date

March 26, 2020 Coronavirus

The Financial Crimes Enforcement Network (FinCEN) would like to reiterate, as previously announced their our website, the annual due date for filing FBARs for foreign financial accounts is April 15. This date change was mandated by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, Public Law 114-41 (the Act). Specifically, section 2006(b)(11) of the Act changed the FBAR due date to April 15 to coincide with the Federal income tax filing season. The Act also allows an extension of the filing deadline of up to six months. To implement the statute with minimal burden, FinCEN will grant filers failing to meet the FBAR annual due date of April 15 an automatic extension to October 15 each year. Accordingly, specific requests for this extension are not required. See "New Due Date for FARs" here.

The FBAR filing deadline will follow the Federal income tax due date guidance, which notes that 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. See "When to File" on here.

Recent ASCPA News

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