Question

A taxpayer who completes a 2018 return and who answers “yes” to FBAR question on schedule...

A taxpayer who completes a 2018 return and who answers “yes” to FBAR question on schedule B is required to complete FinCEN form 114 by what date?
April 15,2019
June 30; 2019
October 15, 2019
December 31, 2019
Business   Accounting   
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Answer #1

Solution:-

April 15,2019

Explantion:-

Annual due date for filing Form 114, Report of Foreign Bank and Financial Accounts (FBAR), is April 15. This statement reiterates FinCEN’s announcements in Notice 2016-1 and Notice 2017-1. See our insights FBAR filing date extended for some filers due to lack of final regulations and FBAR filing date extended again for some filers due to lack of final regulations for more information. The due date for FBAR filings for foreign financial accounts maintained during calendar year 2017 is April 17, 2018, consistent with the federal income tax due date. Filers failing to file their 2017 FBAR by April 17, 2018 have an automatic extension to October 15, 2018.

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