Morgan Lewis

Update for Public Plans Regarding Foreign Bank and Financial Accounts Filing Requirements

By Business and Finance Practice

LawFlash/Client Alert

  • published on:

    06/29/2009

  • by:

    Business and Finance Practice

downloads/links:

pdfView LawFlash
print publication

Much confusion exists regarding filing of Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR). Generally, any U.S. person or entity that at any time during calendar year 2008 had a financial interest in, or signature or other authority over, any financial account located in a foreign county, where the aggregate value exceeded $10,000, is required to file. The filing deadline for FBARs is June 30.

For the full story, please view the PDF.