FinCEN Extends Foreign Asset Reporting Deadline

The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) announced the fourth in a series of deadline extensions for certain required filings in relation to foreign assets. FinCEN Notice 2012-2 extends the filing date for some filers of Form TD F 90-22.1, “Report of Foreign Bank and Financial Accounts (FBAR),” from June 30, 2013, to June 30, 2014. This article reviews FBAR reporting requirements, who is exempt from filing an FBAR, and who is affected by the extended deadline.