New for 2017: FBAR filing date changes – Automatic Extensions
As we noted in our 4 August 2015 post the new due date for annual filing of the Report of Foreign Bank and Financial Accounts (FBAR) 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).
To implement the statute with minimal burden to the public, the Department of Treasury’s Financial Crimes and Enforcement Center (FinCEN) has announced that it will grant an automatic extension to October 15 to any filers not meeting the April 15 deadline; specific requests for this extension are not required.
As the revised due date rules tie the FBAR due date to the Federal income tax due date, 2016 FBARs are due April 18, 2017 (as April 15 falls on a Saturday and the following Monday is a federal holiday) and can be extended to October 16, 2017 (as October 15 falls on a Sunday).
Contact us if you have any questions about your FBAR or your tax situation.