US Expat FBAR Deadline: 10/15 or 12/15 if Extended?

U.S. expatriates have specific reporting obligations for foreign financial accounts, including the requirement to file the Foreign Bank and Financial Accounts Report (FBAR). Understanding the due dates and extension options for FBAR filing is crucial for compliance.

Standard Deadline: October 15

The standard due date for filing the FBAR is April 15. However, there is an automatic extension granted to October 15, without the need to request it. This means that all taxpayers, including U.S. expats, have until October 15 to file their FBAR.

No Further Extension Beyond October 15

It’s important to note that the FBAR deadline cannot be extended beyond October 15. Unlike some tax forms, the FBAR does not have a provision for an additional extension beyond this date.

Personal Tax Return Extensions and FBAR

While a U.S. expat can extend their personal tax return to December 15, this extension does not apply to the FBAR. The extension to December 15 is granted only for the tax return and requires a specific process:

• Automatic Extension to June 15: U.S. expats automatically receive an extension to June 15 for their personal tax return. This extension is due to their tax home and abode being outside the U.S.
• Extension to October 15: By filing Form 4868, expats can extend their tax return deadline to October 15. This form should be filed by June 15, checking the “expat” box to indicate the taxpayer’s status.
• Discretionary Extension to December 15: For an extension beyond October 15, a U.S. expat must send a letter to the IRS requesting a further extension to December 15. This extension is not automatic and is subject to IRS approval.

Conclusion

In summary, U.S. expatriates should be aware that the FBAR deadline is fixed at October 15 and cannot be extended further. For their personal tax return, they have options to extend the deadline to June 15, October 15, and, potentially, December 15. Maintaining compliance with these deadlines is essential to avoid penalties.

For more detailed guidance or personalized advice, it’s advisable to consult with a Certified Public Accountant (CPA) specializing in expatriate taxation.

This article is for informational purposes only and does not constitute legal or tax advice. Always consult with a tax professional for advice specific to your situation.