IRS Announcement 2009-51, issued on June 5, 2009, suspended the new definition of “U.S. Persons” for purposes of the FBAR filing due at the end of this month with respect to accounts reportable for the 2008 calendar year. This announcement provides good news to certain “persons” who may have fallen within the definition of “U.S. Persons” under the new Report of Foreign Bank and Financial Accounts, Form TD F 90.22-1 (commonly referred to as the Foreign Bank Account Report or “FBAR”). Most significantly, branches of foreign entities doing business in the United States will not be required to file the FBAR due June 30, 2009.
Please see full update for more information.
Please see full publication below for more information.