Our NYC CPA firm provides guidance on Foreign Bank and Financial Accounts (FBAR) to NYC taxpayers. Please be aware that the deadline has been extended for individuals with signature authority but no financial interest in certain accounts (FinCEN).
The Financial Crimes Enforcement Network (FinCEN) has announced a further extension of time for certain individuals to file a Report of Foreign Bank and Financial Accounts (FBAR) in light of ongoing questions regarding the filing requirement and its application to individuals with signature authority over, but no financial interest in, certain types of accounts. The filing due date is being further extended to April 15, 2018, for individuals whose filing due date for reporting signature.
Our New York City CPA and NYC tax accountant also advises that the 2016 FBAR due date coincides with the federal income tax deadline. The Financial Crimes Enforcement Network (FinCEN) has reminded taxpayers that the due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts maintained during 2016 is April 18, 2017. In addition, FinCEN will grant an automatic six-month extension to filers failing to meet the April 15 FBAR deadline. Therefore, specific requests for the extension are not required. If you have any questions please contact our NYC tax and CPA office.