FBAR Deadline

Foreign Bank Account Report, or FBAR for short is when you report your foreign income. The United States is one of the two countries that tax foreign income. This is why we need to report our foreign bank account, so that the Internal Revenue Service knows if we’ve made more than the threshold. If you’ve made over $100,000 during the tax year in foreign income, the amount earned above the threshold is taxable. 

FBAR reporting can be quite challenging for starters but it doesn’t have to be. The Internal Revenue Service has lots of free tools you can use to report this. We’ve covered how you can report foreign income in a detailed manner. In this article, we’ll go over the dates you should know about FBAR reporting.

Last day to file FBAR

The last day to file FBAR is April 15, the same as the federal income tax return filing deadline. All taxpayers must report their foreign bank account report by the deadline or subject to late-filing penalties. 

How to extend the FBAR deadline?

Like many other tax provisions, the FBAR deadline can be extended. The Internal Revenue Service allows taxpayers to file an automatic extension for their foreign income reporting. The extended deadline for reporting foreign income is October 15.

What is the 2022 FBAR deadline?

The FBAR deadline for the 2022 tax season (for foreign income earned in 2021) is the same and it won’t change. The initial deadline is April 15, and because reporting foreign income can get quite a bit tricky, you can file an extension to get yourself more time.

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