The Treasury Financial Crimes and Enforcement Network (FinCEN) issued Notice 2012-2 on Dec. 26, 2012, to further extend the filing deadline for the Report of Foreign Bank and Financial Accounts (FBAR) for a small subset of individuals with only signature authority over certain foreign financial accounts.
Recognizing the need for further study on the issue, Notice 2012-2 extends the filing deadline for individuals previously identified in Notice 2011-1, Notice 2011-2 and Notice 2012-1 from June 30, 2013, to June 30, 2014. All other U.S. persons required to file an FBAR this year are still required to meet the June 30, 2013, filing date. Unlike filing federal income tax returns, the filing of FBARs generally cannot be extended.
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