# FBAR filing time frame?



## P123 (Dec 2, 2015)

Hi all,

I filed an Fbar in June of 2015 for the taxable year of 2014.

I filed the FBAR for one longstanding account. However, in March of 2015 I opened a second account. 

In looking over my records and reading the IRS website I am unsure about one thing, namely the "calender year" filing timeline.

The IRS website says: "The FBAR is a calendar year report and must be filed on or before June 30 of the year following the calendar year being reported."

Does this mean that I would first file an FBAR for the account I opened in 2015 in 2016? 

Or should I have included it last year when I reported my first account?

Thanks

Sorry if my post is confusing. This stuff boggles my mind.


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## Bevdeforges (Nov 16, 2007)

> Does this mean that I would first file an FBAR for the account I opened in 2015 in 2016?


Yes. The FBAR due by June 30, 2016 covers accounts you held (or opened or closed) during 2015.
Cheers,
Bev


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## P123 (Dec 2, 2015)

Thanks for your reply.

So I was right not to include the account I opened in 2015 on my 2015 FBAR?

Thanks for your patience :confused2:


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## ForeignBody (Oct 20, 2011)

Philipp123 said:


> Thanks for your reply.
> 
> So I was right not to include the account I opened in 2015 on my 2015 FBAR?
> 
> Thanks for your patience :confused2:


Yes you were right. Note that from 2017, reporting your 2016 accounts, the deadline is April 15. It has been changed and brought in line with the tax filing date.


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## P123 (Dec 2, 2015)

Thanks for your replies.


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## BBCWatcher (Dec 28, 2012)

ForeignBody said:


> Note that from 2017, reporting your 2016 accounts, the deadline is April 15. It has been changed and brought in line with the tax filing date.


Yes, and it'll be possible to extend the filing deadline for next year's (and future years') FinCEN Form 114 to October 15 using IRS Form 4868, just like your tax return's filing deadline.


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## Carmonli (Jul 1, 2014)

Have you heard if the FBAR filing date will automatically be extended until June (I would presume June 15) as it is for IRS filings, for those people outside of the US?


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## Bevdeforges (Nov 16, 2007)

Carmonli said:


> Have you heard if the FBAR filing date will automatically be extended until June (I would presume June 15) as it is for IRS filings, for those people outside of the US?


That's actually an interesting question. I'm not sure how overseas residents are going to hear of the change in FBAR deadline as it is, and I'm sure many will just assume the June 30th deadline as always. Despite what some folks back in the Old Country may think, many overseas residents don't bother following developments like this back "home."

Stay tuned.
Cheers,
Bev


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## BBCWatcher (Dec 28, 2012)

Yes, June 15 will also be available. The new rule calls for uniform deadlines, and that includes extensions. However, contrary to popular belief you don't get an extension to June 15th to file your tax return if you live overseas unless you specifically request it as described in IRS Publication 54. (They do tell you this stuff, in writing.) So the same thing is likely to be true with respect to FinCEN Form 114. The extension is automatically granted _upon request_, but you must request it.

Now, in my view, if you have to do something to get a filing extension to June 15, why not do something to get a filing extension to October 15? Either way you have to prepare a piece of paper (or electronic equivalent), so why not prepare IRS Form 4868? "Keep it simple."

Also, whatever your deadline, the deadline is based on receipt of your tax return (or information return) at the IRS unless you're using an IRS authorized private delivery service or the U.S. Postal Service. Then (and only then) does your date of handover to the courier service count as your filing date. You cannot hand something to the U.S. Postal Service from overseas, so (if you're bumping up against the deadline, and if it's important to meet the deadline) that leaves one of the authorized private courier services (and authorized class of service).


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## Bevdeforges (Nov 16, 2007)

This doesn't quite gibe with what's posted on the IRS website.



> Revenue Ruling 2002-23, 2002-18 IRB 811 provides that federal tax returns mailed by taxpayers in foreign countries will be accepted as timely filed if they bear *an official postmark* dated on or before midnight of the last date prescribed for filing, including any extension of time for such filing.


from https://www.irs.gov/individuals/int...-aliens-abroad-where-and-when-to-file-and-pay

and the paragraph under When to File here: https://www.irs.gov/individuals/international-taxpayers/u-s-citizens-and-resident-aliens-abroad
To claim the automatic filing extension, apparently one merely needs to attach a statement to one's tax return explaining the situation.

Cheers,
Bev


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## BBCWatcher (Dec 28, 2012)

I'm aware of that, but here's the practical problem: postmarks are getting less common. If you're getting near the deadline and can go to a post office and _personally observe the postal clerk adding a dated postmark_, great. That's not always easy, but give it a try if you can.


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## ForeignBody (Oct 20, 2011)

Bevdeforges said:


> That's actually an interesting question. I'm not sure how overseas residents are going to hear of the change in FBAR deadline as it is, and I'm sure many will just assume the June 30th deadline as always. Despite what some folks back in the Old Country may think, many overseas residents don't bother following developments like this back "home."
> 
> Stay tuned.
> Cheers,
> Bev


I don't think it is any different for those of us caught by this "overseas" stuff and living here in the USA. It gets no media coverage, and on the rare occasions that it does it is usually inaccurate. It is only through forums like this that awareness spreads.


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