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FinCEN Further Extends Certain US FBAR Deadlines

Source: tax-news.com - Dec 11, 2015

The United States Financial Crimes Enforcement Network (FinCEN) has announced a further extension of time for certain individuals with signature authority over, but no financial interest in, some types of accounts to file a Report of Foreign Bank and Financial Accounts (FBAR).

US persons are required to file FBARs annually to the Treasury Department if they have a financial interest in or signature authority over certain financial accounts, including bank and securities accounts, in a foreign country, if the aggregate value of these financial accounts exceeds USD10,000 at any time during a calendar year.

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Category: General Business