FinCEN Continues to Grant FBAR Filing Extensions for Some Employees and Officers

On June 2, 2011, in revised Notice 2011-1, the Financial Crimes Enforcement Network ("FinCEN") extended the due date for filing a Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts ("FBAR") to June 30, 2012, for employees or officers of certain regulated banks, financial institutions, and other entities, if the employees or officers had signature or other authority over, but no financial interest in, a foreign financial account of the entity.  This extension also applied to officers or employees of an entity that is more than 50 percent owned by certain regulated banks, financial institutions, and other entities, if the employees or officers have signature or other authority over, but no financial interest in, a foreign financial account of the parent entity.On June 17, 2011, in Notice 2011-2, FinCEN extended the due date for filing an FBAR to June 30, 2012, for officers or employees of an investment advisor registered with the Securities and Exchange Commission, if the officers or employees have signature or other authority over, but no financial interest in, the foreign financial accounts of persons that are not registered investment companies.On February 14, 2012, in Notice 2012-2, FinCEN further extended the filing due date to June 30, 2013, for the above-mentioned individuals who were previously granted extensions under revised Notice 2011-1 and Notice 2011-2.