20230912-KPMG_Global-United_States_–_Treasury_Offers_FBAR_Filing_Relief_Hawaii_Wildfires,_Hurricane_Idalia_Victims_3页_256kb

FBAR Filing Deadline Extension for Disaster Victims

• Announcement: On September 8, 2023, the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) announced an extension for filing FBARs for the 2022 calendar year due to natural disasters.
• Affected Areas: Individuals impacted by Hurricane Idalia in parts of Florida and wildfires in Hawaii, who have received federal emergency assistance from FEMA, qualify for the relief.
• Deadline Extension: The regular filing deadline of October 16, 2023, is extended to February 15, 2024.
• Purpose: This relief allows affected filers to file without penalty, as long as they do so by the new date.
• Additional Relief: If FEMA designates additional areas affected by these disasters later, individuals in those areas may automatically receive the same filing extension.
• Key Reference: Based on FinCEN Notice FIN-2023-NTC2 dated September 8, 2023.
• Advice: Taxpayers unsure about their FBAR obligations should consult a qualified tax professional.