Rules for filing FBAR, reporting foreign accounts | KPMG | GLOBAL

Rules for filing FBAR, reporting foreign accounts for 2016

Rules for filing FBAR, reporting foreign accounts

The IRS today issued a release that includes a reminder that the deadline for reporting foreign financial accounts on FinCEN Form 114, “Report of Foreign Bank and Financial Accounts,” (the FBAR) is now the same as the deadline for filing a federal income tax return.

1000

Related content

As noted in today’s IRS release—IR-2017-105—the FBAR filing deadline historically has been June 30, with no extensions available. For 2016, the FBAR filing deadline was April 18, 2017. However, this year, FinCEN is granting an automatic extension to file the FBAR until October 16, 2017. Specific extension requests are not required. 

 

Read a 2017 report [PDF 143 KB] ] prepared by KPMG LLP that provides details about the FBAR filing requirements.

© 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit