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.
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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. All taxpayer circumstances are different, and NATP recommends contacting research services if you have specific questions about your clients’ tax situations.