Don’t Forget to Report Certain Foreign Accounts to Treasury by the June 30 Deadline

The Internal Revenue Service today reminded taxpayers who have one or more bank or financial accounts located outside the United States, or signature authority over such accounts that they may need to file an FBAR by Thursday, June 30.

By law, many U.S. taxpayers with foreign accounts exceeding certain thresholds must file Form 114, Report of Foreign Bank and Financial Accounts, known as the "FBAR." It is filed electronically with the Treasury Department's Financial Crimes Enforcement Network.

Courtesy of IRS

For more information contact Neikirk, Mahoney and Smith at 502-896-2999