Recent FBAR Guidance Extends the June 30, 2011 Filing Deadline for Certain US Persons

June 22, 2011

Kristen Chang Winckler, Stephen J. Turanchik & Marcia N. Persaud

On Thursday, June 16, 2011, the Internal Revenue Service (the IRS) released Notice 2011-54 which extended the Report of Foreign Bank and Financial Accounts (referred to as FBAR) filing deadline from June 30, 2011 to November 1, 2011 for US persons who have signature authority over, but no financial interest in, a foreign financial account for which the reporting deadline was properly deferred under Notices 2009-62 and 2010-23.

This extension applies only to FBAR filings for calendar years 2009 or earlier. The FBAR filing deadline for calendar year 2010 remains June 30, 2011.

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