For those
US citizens or greencard holders with foreign financial accounts there are new
FBAR reporting requirements for 2013 declarations.
There is
now a new online filing system and a new
FinCEN form 114 which can be accessed at:
http://www.fincen.gov/forms/bsa_forms/
The filing
deadline remains at June 30 following the calendar year-end being reported. There are no exceptions to this deadline, regardless of extensions granted to
file a tax return.
Severe
penalties will be imposed for failure to file.
Note: some
taxpayers may also be required to file form 8938 with their tax return.