No extension for your FBAR filing

The FBAR must be reported to the IRS by June 30 of each year by electronically filing it using the US Department of the Treasury’s Financial Crimes Enforcement Network E-Filing System. Important! The FBAR is not filed with your income tax return it is filed separately.

There is no extension for filing the FBAR. If you did not have all the information you need to file the FBAR by June 30, you should file as complete a return as you can. When you have gathered all the additional information or new information becomes available, you can amend the return.

There is a maximum $10,000 penalty if your failure to file was inadvertent. if you are found guilty of willfully not filing an FBAR, the minimum fine is $100,000 or half the value of the account, whichever is greater.

The FBAR is a separate filing from your income tax return and is not attached to your tax return.