TDF 90-22.1 FOREIGN FINANCIAL ACCOUNT REPORT DUE 6/30/10 - STREET ADDRESS TO USE FOR DHL, FED EXP OR UPS DELIVERY

The following street address should be used to file TDF 90-22.1 (FBAR) form when the US mail is not available for delivery. These private delivery services will not deliver to the PO Box shown delivery address shown on the form's instructions.:

IRS Detroit Computing Center
Attn: FBAR Mailroom
4th Floor
985 Michigan Ave.
Detroit, MI 48226
(313) 234-1062



This form must be filed immediately. If it does not arrive by 6/30/10, you may incur a $10,000 late filing penalty. The fine can be greater if you do not file at all and also might include criminal prosecution.  When in doubt whether you owe the form to the US Treasury, best to file just to be certain there are no problems since it does not cause any additional income tax cost, and is only a reporting form.

Due Date of FBAR Filing Fast Approaching

The deadline for filing Report of Foreign Bank and Financial Accounts,Form TD F 90-22.1 (FBAR) for calendar 2009 is fast approaching. These reports are due by June 30th each year. Unlike the rule for tax forms, FBAR must be received by Treasury on or before the June 30th date to be considered timely filed. Therefore, one should plan accordingly and file the FBAR in sufficient time in advance of the due date. No extension of time to file is permitted.

Penalties can be severe. Persons who are required to file the FBAR and who do not do so by June 30th are subject to a penalty. For a willful violation the penalty can be as high as the greater of $100,000 or 50% of the amount in the foreign account. For a nonwillful violation that is not corrected and for which there is no reasonable cause, the penalty can be as high as $10,000.

Several IRS pronouncements should be considered when working on 2009 FBARs, including Announcement 2010-16 and Notice 2010-23. You can link directly to