KPMG report: FBAR filing deadline for 2014, other considerations

FBAR filing deadline for 2014, other considerations

The requirement to annually report foreign financial accounts on FinCEN Form 114, Report of Foreign Bank and Financial Accounts—the FBAR—remains an area of increased focus.

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Electronic filing is now the order of the day, with many companies not only filing the entity’s FBAR, but also those of its officers and employees who have signature or other authority over foreign accounts.

Taxpayers need to be aware of the upcoming filing deadline for calendar year 2014 FBAR reports, and consider the current limited exceptions to the annual filing requirements and possible relief from penalties for previous failures to file.


Read an April 2015 report [PDF 187 KB] prepared by KPMG LLP: What’s News in Tax: It’s Spring and FBAR Reporting Is in the Air

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