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FBAR filing date again extended for some filers

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January 2021


The Financial Crimes Enforcement Network (FinCEN) on December 11 issued Notice 2020-1 extending to April 15, 2022 the filing date for calendar years 2010 through 2020 Forms 114, Report of Foreign Bank and Financial Accounts (FBAR), for certain US individuals with signature or other authority over (but no financial interest in) foreign financial accounts. The extension was provided to give FinCEN additional time to address certain implementation questions that date back to 2011, as well as regulatory changes proposed in March 2016 which have not yet been finalized. All other US individuals with signature or other authority over foreign financial accounts and those US individuals and entities with financial interests in such accounts still must be filed by April 15, 2021 (see below regarding automatic extension). 

As with previous notices, filers that are not the subject of the notice will receive an automatic extension of time to file to October 15, 2021 if they are unable to file by the original due date. No additional filing is required to receive the extension.

The takeaway

Given the continued delayed filing, employers, employees, and officers have a choice simply to continue to maintain their foreign financial account information or instead to take the steps necessary to file a current FBAR. FinCEN has made no commitment as to when the regulations will be finalized. Employers filing currently should provide the necessary information to impacted employees. Employers also should consider communicating to their employees and officers that filing this information has continued to be delayed.

Contact us

Dominick Dell'Imperio

Partner, PwC US

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