How Do I Get an FBAR Filing Extension?
Understand the inherent flexibility in FBAR filing deadlines and the specific procedures for remaining compliant if you've missed the due date.
A Report of Foreign Bank and Financial Accounts (FBAR), or FinCEN Form 114, is an annual disclosure required for U.S. persons. This applies if you have a financial interest in or signature authority over foreign financial accounts and their aggregate value exceeds $10,000 at any point during the year. This report is filed with the Financial Crimes Enforcement Network (FinCEN), not the IRS.
The Automatic Filing Extension
The initial due date for filing the FBAR is April 15, aligning with the federal income tax deadline for individuals. FinCEN provides an automatic six-month extension to October 15 for any filer who does not submit their FBAR by the April deadline.
This extension to October 15 is granted without any action required from the filer, so you do not need to file a specific form to receive this additional time. The extension is a blanket provision for all filers who miss the initial April 15 date. This FBAR extension is independent of any extension you may have filed for your personal income tax return with the IRS.
Even if you file a Form 4868 for an automatic extension on your income tax return, it has no bearing on your FBAR filing deadline. The FBAR extension is a separate matter governed by FinCEN. Therefore, all filers can consider their effective FBAR deadline to be October 15 each year.
Seeking an Extension Beyond the Automatic Deadline
For most filers, the FBAR is considered delinquent if not filed by the October 15 deadline, which may subject them to penalties. If you miss the deadline and do not qualify for a further extension, the primary path to mitigating potential penalties is to establish that there was a “reasonable cause” for the failure to file on time. To pursue this, you must file the overdue FBAR as soon as possible and provide a detailed statement outlining your reasonable cause.
However, FinCEN has granted a further extension for certain individuals. This relief applies to those who only have signature authority over foreign financial accounts, such as employees or officers of a company, but have no financial interest in them. For the 2024 reporting year, the deadline for this specific group has been extended to April 15, 2026.
In certain other specific situations, FinCEN may grant further filing extensions to a broader group of individuals, such as those affected by federally declared natural disasters. These announcements are not sent to individuals directly. You must monitor the official FinCEN website for news releases or specific notices that detail any disaster-related relief, which would specify the covered areas and new extended deadlines.
Completing the Late FBAR Submission
The submission of a late FBAR must be done electronically through the BSA E-Filing System, which is accessible via the FinCEN website. You do not file the FBAR with a federal tax return or mail a paper copy unless you have received a specific exemption from FinCEN after a formal request.
The system provides an option for individuals to prepare and file the FBAR without needing to register for an account. You will be prompted to enter all the required information from your foreign financial account records directly into the online version of FinCEN Form 114.
After inputting the necessary details, such as account numbers, maximum values, and institution information, you will proceed to the submission steps. This part of the process includes electronically signing the form and, if applicable, providing an explanation for the late filing in the designated field.