[IMGCAP(1)]Several due dates for those with offshore accounts are approaching, with far-reaching consequences for those who don’t comply.
The first, June 30, is for those taxpayers with foreign accounts whose aggregate value exceeds $10,000 any time during the year. They must file a Form 114, Report of Foreign Bank and Financial Accounts (FBAR) electronically through FinCEN’s BSA E-Filing System. The FBAR is not filed with a federal tax return and must be filed by June 30 each year.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access