ARTICLE · 27 JUNE 2013

The FBAR Is NOT In The Mail

Moodys Private Client Law LLP

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US citizens who live abroad, including Canada, need to be aware of a quirk of this year’s calendar that accomplishes the impossible – adding pressure and confusion to the FBAR filing process.

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Accelerated deadline for 2012 US FBAR Filing: Must be RECEIVED by June 28, 2013

US citizens who live abroad, including Canada, need to be aware of a quirk of this year's calendar that accomplishes the impossible – adding pressure and confusion to the FBAR filing process. While US tax law is not known for its benevolence, it does at least offer the "mailbox rule", which (generally) considers a document submitted on the date that it is postmarked (international filers should check with their advisors to determine how this applies in their specific locale). The FBAR, however, has its origins not in US tax law but rather in the Bank Secrecy Act and is not subject to the mailbox rule. Therefore, an FBAR is only filed when it is RECEIVED by the US government. Because June 30^th (the deadline for FBAR filing) falls on a Sunday this year, filers must allow sufficient time for their FBARs to be actually received by the IRS by Friday, June 28, the last business day before

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