FinCEN Notice 2014-1 FBAR Filing Requirement - Extended Filing Date Related to Notice 2013-1

Issued Date
Guidance Subject
FinCEN Notice 2014-1 FBAR Filing Requirement - Extended Filing Date Related to Notice 2013-1

The Financial Crimes Enforcement Network (FinCEN) is announcing a further extension of time for certain Report of Foreign Bank and Financial Accounts (FBAR) filings in light of ongoing consideration of questions regarding the filing requirement and its application to individuals with signature authority over but no financial interest in certain types of accounts.

On December 20, 2013, FinCEN issued Notice 2013-1 to extend the filing date for FinCEN Form 114 - FBAR1 for certain individuals with signature authority over but no financial interest in one or more foreign financial accounts to June 30, 2015. In the past three years, FinCEN has issued identical extensions that applied to similarly situated individuals.2 As noted in these previous Notices, FinCEN received questions that required additional consideration with respect to the exceptions addressed in these Notices. FinCEN is considering regulatory changes to address such questions, therefore, FinCEN is further extending the filing due date to June 30, 2016, for individuals whose filing due date for reporting signature authority was previously extended by Notice 2013-1. This extension applies to the reporting of signature authority held during the 2014 calendar year, as well as all reporting deadlines extended by previous Notices 2013-1, 2012-1 and 2012-2, along with Notices 2011-1 and 2011-2. For all other individuals with an FBAR filing obligation, the filing due date remains unchanged. Questions or comments regarding the contents of this notice should be addressed to the FinCEN Resource Center at 1-800-767-2825 or 1-703-905-3591 (not a toll free number) and select option 3 for regulatory questions. E-mail inquiries can be sent to FRC@fincen.gov.

Dated: 11/24/14 /signed/ Jennifer Shasky Calvery Director Financial Crimes ENforcement Network