Regulatory Alerts2013-03-05
Added
FinCEN Proposes Changes to the Report of Foreign Bank and Financial Accounts Report
FinCEN proposes updates to Form TD F 90-22.1, the Report of Foreign Bank and Financial Accounts (FBAR), to standardize it with other Bank Secrecy Act electronically filed reports and to allow third-party preparers to file on behalf of account owners. The proposed changes include adding fields for Taxpayer Identification Number (TIN) type, a suffix, and a check box to indicate if the amount is unknown, as well as a new section for third-party preparer information. This notice requests public comments on the proposed revisions by May 6, 2013, pursuant to the Paperwork Reduction Act of 1995.
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