FinCEN Extends Due Date for Certain FBAR Filers

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On February 14, 2012, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued Notice 2012-1, which extended the filing deadline for both the 2010 and 2011 Report of Foreign Bank and Financial Accounts (FBARs) to June 30, 2013, for certain officers and employees with signature authority but no financial interest in a foreign financial account. This filing extension applies to the classes of persons that were eligible for the extension of time to file a FBAR pursuant to Notice 2011-1 and Notice 2011-2.

Under Notice 2011-1, the FBAR reporting deadline was extended for officers or employees of either an entity listed below or a controlled person of that entity whose signature authority was over either a foreign-controlled subsidiary or an entity other than the individual’s employer. The officer or employee must be an officer or an employee of one of the following entities...

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