FinCEN 114 Report of Foreign Bank and Financial Accounts Deadline Extension
By Douglas Nakajima, International Tax Co-Leader
FINCEN has withdrawn the notice it issued earlier extending the FBAR due date to December 31, 2020, stating that it was made in error. They have clarified that the extension applies to disaster areas only.
The Financial Crimes Enforcement Network (FinCEN) announced on its website that the deadline for federal tax year 2019 to e-file FinCEN 114 Report of Foreign Bank and Financial Accounts (FBAR) has been moved from October 15, 2020, to December 31, 2020. No further information was provided with respect to the extended period for filing, including whether a request is required to obtain the extension. Taxpayers who have a FinCEN Form 114 filing requirement must now file electronically on FinCEN’s BSA E-Filing System website by December 31, 2020.