The Financial Crimes Enforcement Network (FinCEN) recently extended the deadline to April 15, 2024, (Notice 2022-1) for filing a Report of Foreign Bank and Financial Accounts for certain individuals with signature authority over — but no financial interest in — one or more foreign financial accounts. In order to be eligible for the reporting extension under Notice 2022-1, an individual must satisfy specific criteria with respect to certain employer-owned foreign financial accounts.
This is the 11th consecutive year that FinCEN has issued such an extension to similarly situated individuals.
FinCEN extended the deadline in light of a notice of proposed rulemaking that it issued on March 10, 2016. These proposed regulations expand and clarify filing exemptions for certain U.S. persons with signature authority, or any other authority, over foreign financial accounts, and are yet to be finalized. The extension applies to individuals with signature authority held during the 2022 calendar year, as well as all reporting deadlines extended by prior notices.
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