FBAR Filing Deadline Extended For Certain Filers

On December 16, 2016, FinCEN issued Notice 2016-1, extending the filing deadline for the Report of Foreign Bank and Financial Accounts, FinCEN Form 114 (FBAR), for certain individuals with signature or other authority over (but no financial interest in) employer-owned foreign financial accounts to April 15, 2018. FinCEN has provided similar extensions over the previous four years.¹ This new extension applies to reporters with signatory authority during the 2016 calendar year and to those individuals whose reporting deadline was extended under prior notices (such as certain employees or officers of investment advisers registered with the U.S. Securities and Exchange Commission (SEC) who have signature authority over, but no financial interest in, certain foreign financial accounts).² All other filers must still file by April 17, 2017 (with the option to apply for an automatic extension until October 15, 2017).