Additional FBAR extension

The IRS has announced an additional FBAR filing extension for certain individuals for calendar years 2009 and earlier, due to reports of difficulties in compiling necessary information.  Persons having signature authority over, but no financial interest in, a foreign financial account in 2009 or earlier will now have until November 1, 2011, to file FBARs with respect to those accounts. However, the deadline for reporting signature authority over, or a financial in, a foreign financial account for 2010 is still June 30, 2011. See Notice 2011-54 for more information.