FinCEN provided relief for Report of Foreign Bank and Financial Accounts ("FBAR") filers that are impacted by the California wildfires, the Iowa derecho, Hurricane Laura, the Oregon wildfires and Hurricane Sally. FinCEN extended the FBAR reporting deadline for such filers from October 15, 2020 to December 31, 2020.
In its Notice, FinCEN stated that the relief is offered to businesses and residents in any locality designated by the Federal Emergency Management Agency ("FEMA") as eligible for individual assistance. Additionally, FinCEN clarified that relief will be extended automatically to FBAR filers in any other localities that FEMA may designate at a later date. FinCEN encouraged FBAR filers who may be impacted by the natural disasters, but are located outside of the impacted areas, to contact the FinCEN Regulatory Support Section.
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