The IRS and FinCEN reminds U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is April 15. Filers who miss the April deadline will receive an automatic extension of time until October 15, 2022 to file their FBAR. The FBAR must be filed electronically with the Financial Crimes Enforcement Network (FinCEN), which is available through the BSA E-Filing System website.
The Bank Secrecy Act requires U.S. persons to file an FBAR if they have:
- Financial interest in, signature authority or other authority over one or more accounts, such as a bank account, brokerage account, mutual fund or other financial account in a foreign country, and
- The aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year.
Find additional information regarding FBAR filings here:
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