Alert May 18, 2010

FinCEN Posts Comments Regarding Proposed FBAR Amendments

The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) posted the comments that FinCEN has received from the public regarding FinCEN’s proposed rule (the “Proposed Rule”) to amend its regulations regarding the requirements for filing the Report of Foreign Bank and Financial Accounts (“FBAR”) with the IRS on Form TD F 90-22.  The Proposed Rule, which was published on February 26, 2010, was described in detail in the March 2, 2010 Alert.  The comment period for the Proposed Rule closed on April 27, 2010.