Event Type: Webinar
Wednesday, June 17, 2015
12:30 p.m. - 1:00 p.m. ET
Webinar Length: 30 minutes
A Reed Smith Tax Webinar on Understanding FBAR Compliance and Last-Minute Help for FBAR Related Issues.
June 30, 2015 is the deadline for filing a FinCen Form 114 (also known as the Foreign Bank Account Report (FBAR)) for the 2014 calendar year. The Internal Revenue Service and the U.S. Department of Justice continue their strong focus on those who are not compliant with their reporting obligations including, U.S. persons and entities who hold financial interests in or control over foreign accounts.
This Webinar will review the important issues that any U.S. person or entity (including U.S. persons living abroad) with a financial interest in, or signature or other authority over, foreign bank accounts, must resolve for compliance with the U.S. Treasury reporting rules. The penalties for non-compliance with the FBAR can be significant. This Webinar will address those penalties in light of the options available to those who may elect to voluntarily correct FBAR reporting errors and omissions for previous years.