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The U.S. Department of the Treasury (“Treasury”) has issued guidance with respect to the filing of reports of foreign financial accounts (“FBARs”) by officers and employees of investment advisers and others with different filing deadlines
On March 28, 2011, the Final Regulations, issued by the Financial Crimes Enforcement Network of the U.S. Department of the Treasury ("Treasury") relating to the filing of Reports of Foreign Bank and Financial Accounts ("FBAR") became effective
In late February, the Treasury Department (“Treasury”) issued Notice 2010-23 (“Relief Notice”) and Announcement 2010-16 (the “Announcement”), providing additional guidance relating to the filing of Reports of Foreign Bank and Financial Accounts (Form TD F 90-22.1) (“FBAR”) for all years through 2009
On June 24, 2009, the Internal Revenue Service ("IRS") issued an updated Frequently Asked Questions (see Question 43) which may extend the deadline for certain filers of Reports of Foreign Bank and Financial Accounts ("FBAR") from June 30, 2009, to September 23, 2009
An obligation to file a Report of Foreign Bank and Financial Accounts ("FBAR") currently applies to any United States person who has a financial interest in or signature or other authority over any financial accounts in a foreign country, if the aggregate value of these financial accounts exceed $10,000 at any time during the calendar year
