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Mandatory FBAR E-filing Postponed

posted Feb 28, 2012, 4:28 PM by Krozel Capital
If you have a foreign bank or financial account you may be required to file Form TDF 90-22.1 otherwise known as the 'Report of Foreign Bank and Financial Accounts' or more commonly referred to as the FBAR. FinCen (the Financial Crimes Enforcement Network) announced last July that it had developed an electronic filing system for FBAR's, but just recently announced that it will not require individuals to use this system until July 1, 2013. 

So if you need to file an FBAR for 2011 (due June 30, 2012) you have two options 1) by mail or 2) through FinCen's new electronic filing system. If you are unsure of how to prepare your FBAR please contact me and I can help.

For more information on the FBAR and to find out if you need to file one, check out the IRS website for more information,,id=148849,00.html