person is a citizen or resident of the United States or any domestic legal entity such as a partnership, corporation, limited liability company, estate or trust. persons or entities with foreign accounts, even relatively small ones, to check if this filing requirement applies to them.Ī U.S. The aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year.īecause of this threshold, the IRS encourages U.S. persons to file a FBAR if they have:įinancial interest in, signature authority or other authority over one or more accounts, such as a bank account, brokerage account, mutual fund or other financial account in a foreign country, and They don’t need to request the extension. However, filers missing the April 15 deadline will receive an automatic extension until October 15, 2021, to file the FBAR.

The extension of the federal income tax filing due date and other tax deadlines for individuals to May 17, 2021, does not affect the FBAR requirement. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021.

WASHINGTON - The Internal Revenue Service is reminding U.S. FBAR Automatic Extension to Submit Online But, in order to give Taxpayers the opportunity to get into the habit of filing an annual FBAR timely (even though the form is been around for over 50-years - enforcement is relatively new), the FBAR is (currently) on automatic extension.

A few years back, the rule was changed so that the FBAR due date was moved to coincide with US Tax Return filing requirements - April 15.

In prior years, the FBAR filing due date was June 30 - without any opportunity for extension. The FBAR is filed each year by US Persons such as Individuals, Trusts and Entities who meet the threshold requirements for reporting the maximum valueof their Foreign Bank and Financial Accounts. Automatic Extension of FBAR Deadline Automatic Extension to Submit FBARĪutomatic Extension to Submit FBAR: Even though the FBAR is not a tax form, since 2003 the Internal Revenue Service has taken over enforcement of FinCEN Form 114.

File for 2016 tax extension online