Federal law generally requires U.S. persons with a financial interest in, or signature authority over, a foreign financial account to file Form TD F 90-22.1, the Report of Foreign Bank and Financial Accounts (the “FBAR”) on an annual basis. On December 26, 2012, FinCEN released FinCEN Notice 2012-2, which extends the deadline to June 30, 2014 for (i) employees and officers to file an FBAR to report signature authority over foreign financial accounts of affiliates of their employers under certain circumstances and (ii) employees and officers of registered investment advisers to file FBARs to report signature authority over certain accounts in the course of their employment. This deadline had previously been extended by FinCEN Notices 2011-1, 2011-2 and 2012-1. This extension does not affect the requirement that individuals report that they have a financial interest in, or signature authority over, a foreign financial account on Schedule B to IRS Form 1040.