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December 10, 2018: FinCEN extends FBAR deadline (for some) (again)

FBAR Filing Requirement for Certain Financial Professionals

FinCEN Notice 2018-1

Extended Filing Date Related to Notice 2017-1

The Financial Crimes Enforcement Network (FinCEN) is announcing a further extension of time for certain Report of Foreign Bank and Financial Accounts (FBAR) filings in light of the notice of proposed rulemaking (NPRM) FinCEN issued on March 10, 2016, which proposes to revise the regulations implementing the Bank Secrecy Act (BSA) regarding FBARs.1 Specifically, one of the proposed amendments would expand and clarify the exemptions for certain U.S. persons with signature or other authority over foreign financial accounts. This proposed amendment seeks to address questions raised regarding the filing requirement and its application to the individuals with signature authority over, but no financial interest in, certain types of accounts as outlined in FinCEN Notice 2017-1.

On December 22, 2017, FinCEN issued Notice 2017-1 to extend the filing date for FinCEN Form 114 – FBAR2 for certain individuals with signature authority over but no financial interest in one or more foreign financial accounts to April 15, 2019. FinCEN has previously issued identical extensions that applied to similarly situated individuals.3 As noted in these previous Notices, FinCEN received questions that required additional consideration with respect to the exemptions addressed in these Notices. As stated above, the proposed amendments in the NPRM seek to address these exemptions. Because the proposal is not yet finalized, FinCEN is further extending the filing due date to April 15, 2020, for individuals whose filing due date for reporting signature authority was previously extended by Notice 2017-1.4 This extension applies to the reporting of signature authority held during the 2018 calendar year, as well as all reporting deadlines extended by previous Notices 2017-1, 2016-1, 2015-1, 2014-1, 2013-1, 2012-1 and 2012-2, along with Notices 2011-1 and 2011-2. For all other individuals with an FBAR filing obligation, the filing due date remains April 15, 2019.

Questions or comments regarding the contents of this notice should be addressed to the FinCEN Resource Center at 1-800-767-2825 or 1-703-905-3591 (not a toll free number) and select option 3 for regulatory questions. E-mail inquiries can be sent to


FinCEN Notice

Categories: Anti-Money Laundering FBAR FinCEN Updates


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