FBAR E-File Mandate Postponed
Last July, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced it had developed an e-filing system for FBARs. Then in September, FinCEN proposed to require all FinCEN reports (including FBARs) be filed electronically as of June 30, 2012.
Last week, FinCEN announced its decision to postpone the proposed FBAR e-file mandate until July 1, 2013.
Taxpayers may still voluntarily e-file 2011 FBARs through the BSA E-Filing System. 2011 FBARs must be received by the Treasury Department no later than June 30, 2012.