FBAR and the 2012 Offshore Voluntary Disclosure Program

July 11, 2012

Established pursuant to the Bank Secrecy Act (BSA), the “Report of Foreign Bank and Financial Accounts” (FBAR) filing requirements have been in place now since 1972. Despite its long existence, the section in FBAR requiring U.S. persons to file Form TD F 90-22.1 (better known as the “FBAR form”) has only been strictly enforced in…

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