IRS Extends FBAR Filing Deadline for Certain Funds to June 30, 2010
On August 7, 2009, the IRS announced that it had extended the deadline for certain filers of the Report of Foreign Bank and Financial Accounts, commonly referred to as the "FBAR," from September 23, 2009 to June 30, 2010 for filings for the 2008 and earlier calendar years. The IRS also announced that the Treasury Department has requested comments by October 6, 2009 regarding the FBAR filing requirement with respect to a foreign "commingled fund," the phrase in the FBAR instructions that has been at the center of the recent FBAR controversy pertaining to private equity funds and hedge funds.