By Patrick D. Ryan , Karen A. Simonsen & Todd A. Solomon The Financial Crimes Enforcement Network and the
Internal Revenue Service recently issued three notices, FinCEN Notices
2011-1 and 2011-2 and IRS Notice 2011-54, granting an extension of...
By Joan C. Arnold
By June 30, 2011, every U.S. person who owns or has signatory authority over a foreign financial account must report those accounts to the IRS on form TD 90.22-1, (the FBAR form) if the value of the accounts totaled more than $10...
Plan Filers invested in a foreign account, such as a foreign mutual find, should be preparing to file FBAR for 2009 by June 30, 2010
The Internal Revenue Service (IRS) has recently issued several pieces of guidance related to the filing of the Report...
By Carol P. Tello and Robert S. Chase In the past week, two extensions for filing a Report of Foreign Bank and Financial Account (FBAR) were announced by the IRS and FinCEN for certain persons that are required to file FBARs solely as a result of their...
By Carol P. Tello The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) division recently issued final rules regarding the reporting of foreign bank and financial accounts (commonly known as FBAR filings). The final FBAR regulations...
By Robb Chase and Amanda Pugh
On February 14, 2012, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued Notice 2012-1, which extended the filing deadline for both the 2010 and 2011 Report of Foreign Bank and Financial...
By Henry Christensen III , Christiana Lazo , M. Read Moore & J. Andrew P. Stone The final FBAR regulations, effective on March 28, 2011, help to clarify
the filing obligations of limited liability companies, trust
beneficiaries and those holding...
By James G. Isaac , Karen A. Simonsen & Todd A. Solomon The Treasury Department has issued final regulations concerning the FBAR filings. Some relief is provided for employee benefit plans and plan sponsors, but a blanket exemption is not provided...
Joan C. Arnold ,
Laura D. Warren , and
Paul D. Pellegrini
By June 30, 2011, every U.S. person who owns or controls a foreign
financial account must report those accounts to the IRS on form TD
90.22-1, (the FBAR form) if the value...
Joan C. Arnold
In our May 17, 2011 Tax Update ,
"Significant Changes to FBAR Filing for Employees of Public Companies
Applicable to 2010 Filings," we discussed the revised rules for the
filing of TD Form 90-22.1, on which a U...