2017 FBAR Ffiling Deadline Announced

2017 FBAR Ffiling Deadline Announced

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 changed the due date for filing FinCEN Form 114 [Report of Foreign Bank and Financial Accounts (FBARs)] to April 15 of the following calendar year, with a six-month extension to October 15 allowed. (Previously, the due date was June 30 of the following calendar year, with no extension allowed.) Recently, FinCEN announced that 2017 FBARs will be due on 4/17/18, which is the same date 2017 federal income tax returns are due. However, taxpayers who fail to file their FBARs by that date will be granted an automatic extension to 10/15/18—a specific request for extension will not be required. The announcement can be found at www.fincen.gov/sites/default/files/shared/FBAR_Due_Date_Clarification_PD02-02-2018.pdf .

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