FBAR Due Dates: Filing Deadlines and Extensions
Navigate the FBAR filing process with confidence. Learn about the reporting timeline and what you need to prepare for a timely electronic submission.
The Report of Foreign Bank and Financial Accounts, known as the FBAR, is a report filed with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury. Its purpose is to provide the government with information regarding certain foreign financial accounts to track potential tax evasion and other illicit activities. This reporting requirement is mandated by the Bank Secrecy Act. For FBAR purposes, a “U.S. person” includes U.S. citizens, residents, and entities such as partnerships, corporations, estates, and trusts formed under U.S. law. The FBAR is filed using FinCEN Form 114 and is a separate obligation from an individual’s annual income tax return.
Annual Filing Deadline
The annual due date for filing the FBAR is April 15 of the year following the calendar year being reported. This deadline is aligned with the due date for individual federal income tax returns. For example, an FBAR covering accounts held during the 2024 calendar year must be filed by April 15, 2025.
If the April 15 filing date falls on a Saturday, Sunday, or a legal holiday, the deadline automatically shifts to the next business day.
Filing Extensions
For filers who are unable to meet the April 15 deadline, an automatic extension moves the final due date to October 15 of the same year. This provides an additional six months to complete the report. Filers do not need to submit any special forms or requests to receive this extension.
FinCEN has also granted a specific extension for individuals who have signature authority over, but no financial interest in, certain foreign financial accounts. For these individuals, the deadline for filing the 2024 FBAR is extended to April 15, 2026.
Information Required for Filing
To complete FinCEN Form 114, you must provide your full legal name, current address, and either a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN).
For each foreign financial account, you will need to provide the financial institution’s full name, its mailing address, and the specific account number. You must also identify the type of account, such as:
- Bank account
- Brokerage account
- Mutual fund
- Retirement account
- Life insurance or annuity policy with a cash value
A required piece of information is the maximum value of each account during the calendar year. To determine this value, review account statements to identify the highest balance. The value must be converted to U.S. dollars using the Treasury’s Financial Management Service exchange rate for the last day of the calendar year. Keeping records of these statements and conversion calculations is recommended for at least five years from the FBAR due date.
How to Submit Your FBAR
The FBAR must be filed electronically through the BSA E-Filing System, which is managed by FinCEN. Paper filings are not accepted unless a specific exemption has been granted. To file, navigate to the official FinCEN website to prepare and submit the FBAR online.
The online form has fields for your personal details and the specifics of each foreign account. You will enter the name of the financial institution, account number, and the maximum account value in U.S. dollars for every reported account.
If an account is jointly owned with a spouse, one spouse can file a single FBAR on behalf of both. The non-filing spouse must complete FinCEN Form 114a, “Record of Authorization to Electronically File FBARs,” to authorize the other spouse to file for them. This form should be retained for your records and should not be filed with the FBAR itself.
After entering and reviewing all information, you will sign the form electronically. Upon successful submission, the system generates a confirmation receipt that includes a unique BSA Identifier. It is important to save a copy of this receipt as proof of timely filing.