IR-2022-73, March 31, 2022<\/p>\n
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WASHINGTON \u2013 The Internal Revenue Service today reminded U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR)<\/a> is April 15. For additional information about filing deadlines, filers should look to Financial Crimes Enforcement Network\u2019s (FinCEN) website<\/a> for further information.<\/p>\n <\/p>\n Filers missing the April deadlines will receive an automatic extension until Oct. 15, 2022, to file the FBAR. They don\u2019t need to request the extension. See FinCEN\u2019s website<\/a> for further information.<\/p>\n <\/p>\n The Bank Secrecy Act requires U.S. persons to file an FBAR if they have:<\/p>\n <\/p>\n <\/p>\n Because of this threshold, the IRS encourages U.S. persons or entities with foreign accounts, even relatively small ones, to check if this filing requirement applies to them.<\/p>\n <\/p>\n A U.S. person is a citizen or resident of the United States or any domestic legal entity such as a partnership, corporation, limited liability company, estate or trust.<\/p>\n <\/p>\n The FBAR must be filed electronically with the Financial Crimes Enforcement Network (FinCEN) and is only available through the BSA E-Filing System<\/a> website. Taxpayers who are unable to e-file their FBAR must contact FinCEN at 800-949-2732 (703-905-3975 if calling from outside the U.S.) or FRC@fincen.gov<\/a>.<\/p>\n <\/p>\n Those who don’t file an FBAR when required may be subject to significant civil and criminal penalties that can result in a fine and\/or prison. The IRS will not penalize those who properly reported a foreign account on a late-filed FBAR if the IRS determines there was reasonable cause for late filing.<\/p>\n IRS.gov has several resources available 24 hours a day:<\/p>\nWho must file an FBAR<\/h2>\n
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Penalties for failure to file an FBAR<\/h2>\n
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More details and help available<\/h2>\n