You make the callBy: National Association of Tax Professionals
November 12, 2020

Question: My client Akash walked into my tax office and asked if the FBAR deadline for 2019 tax returns has changed due to the CA wildfires. What do I tell Akash?

Answer: Yes, the FinCEN Form 114 (Report of Foreign Bank and Financial Accounts), also known as the FBAR, can be filed by Dec. 31, 2020 due to the CA wildfires if Akash is a victim of the fires.

FBAR filing deadline is normally Oct. 15 (automatic extension if the April 15 deadline is missed). For tax year 2019:

  • The normal extension deadline for FBAR was extended to Oct. 31, 2020.
  • The IRS has agreed with FINCEN to extend the FBAR date to Dec. 31 for FBAR filers impacted by California wildfires, Iowa derecho, Hurricane Laura, Oregon wildfires and Hurricane Sally.
  • This extension only applies to 2019 filers.
Tax preparation
Tax Act
Tax law
Disaster
Federal tax research
Forms
Read more
penAbout National Association of Tax Professionals

The National Association of Tax Professionals (NATP) is the largest association dedicated to equipping tax professionals with the resources, connections and education they need to provide the highest level of service to their clients. NATP is comprised of over 23,000 leading tax professionals who believe in a superior standard of ethics and exemplify professional excellence. Members rely on NATP to deliver professional connections, content expertise and advocacy that provides them with the support they need to best serve their clients. The organization welcomes all tax professionals in their quest to continually meet the needs of the public, no matter where they are in their careers.

The NATP headquarters is located in Appleton, WI. To learn more, visit www.natptax.com.

Information included in this article is accurate as of the publish date. This post is not reflective of tax law changes or IRS guidance that may have occurred after the date of publishing.

Additional Articles

Categories