Update 2017: FBARs are now due when your tax return is due. If you do not file on time, an automatic 6 month extension will be put on file for you.
If you have mis-filed or unfiled FBARs, contact us. We can help. Call us at 888-727-8796 or email info@irsmedic.com.
While it is true that a small subset of individuals with only signature authority will receive a one-year extension beyond the upcoming filing date of June 30, 2012, most FBARS are due by June 30, 2011. The Treasury Department issued Notice 2011-1 that extends the deadline until June 30, 2012, for the following individuals:
- An employee or officer of a covered entity who has signature or other authority over and no financial interest in a foreign financial account of another entity more than 50 percent owned, directly or indirectly, by the entity (a “controlled person”).
- An employee or officer of a controlled person of a covered entity who has signature or other authority over and no financial interest in a foreign financial account of the entity or another controlled person of the entity.
Again, all other U.S. persons required to file an FBAR this year are required to meet the June 30, 2011, filing date. Unlike with federal income tax returns, extensions of time to file are not available.
