IRS confirms 2021 FBAR filing deadline is April 15 - Spidell

IRS confirms 2021 FBAR filing deadline is April 15

With the extension of the individual filing deadline to May 17, 2021, practitioners have been asking if the FBAR filing deadline was also extended. The assumption for many was that, because the FBAR filing deadline has been adjusted to match the individual filing deadline, the FBAR deadline would be extended too. Today the IRS has stated that the extension of the federal income tax filing due date and other tax deadlines for individuals to May 17, 2021, does not affect the FBAR requirement. (IR-2021-83) However, keep in mind that taxpayers are allowed an automatic extension to October 15 if they fail to meet the FBAR annual due date of April 15. You don’t need to request an extension to file the FBAR.

Attend Spidell’s Quarterly Tax Update webinar and get details on the American Rescue Plan, the May 17 individual filing deadline, and other federal issues. Click here and register now.