News

Reminder: Foreign Bank Account Reporting Deadline is April 15

Democrats Abroad FATCA/FBAR reporting team just published their newest report, available here http://www.democratsabroad.org/fbar_fatca_task_force_report 

Part of this report states "Americans with accounts in foreign financial institutions with a total balance across all accounts at any point during the year of $US10,000 or more need to file a FBAR (Foreign Bank and Financial Accounts Report) Form 114.  This year, for the first time, the form is due for submission on 15 April, as opposed to 30 June as it has been in the past."  

"The form is filed with Treasury, rather than the IRS, with FinCen - the Financial Crimes Enforcement Network.  (To say that it disturbs Americans abroad that we need to make this voluntary disclosure to the section of the US Treasury set up to investigate and apprehend perpetrators of financial crimes would be the understatement of the decade.  But I digress.)  The form is filed electronically using the BSA E-filing system, a change mandated back in 2014 (though it can be prepared online or offline and uploaded)."


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