FBAR Deadline Extended to December 31, 2021

The Financial Crimes Enforcement Network (FinCEN) today issued a notice extending the filing date of Reports of Foreign Bank and Financial Account (FBARs) for victims of recent natural disasters, including Hurricane Ida, the California Wildfires, and Tropical Storm Fred.  Victims of recent natural disasters will have until December 31, 2021, to file FBARs for the 2020 calendar year.  FinCEN is offering this expanded relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. 

The FBAR for the calendar year 2020 otherwise would be due on or before October 15, 2021.

FinCEN is offering this expanded relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance as a result of Hurricane Ida, which impacted millions of affected filers in New York and New Jersey.

In addition, FinCEN will work with any FBAR filer who lives outside the disaster areas but who must consult records located in the affected areas in order to meet the deadline. FBAR filers who live outside the affected areas seeking assistance in meeting their filing obligations (including workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization), should contact the FinCEN Regulatory Support Section at 800-767-2825 or electronically at frc@fincen.gov. FBAR relief is part of a coordinated federal response to the damage caused by natural disasters and is based on local damage assessments by FEMA.

We are advising all clients to take advantage of the extended deadline to properly and fully complete their FBAR filings.

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