There are 2 agencies and two separate annual filings involved:
US Treasury
Under the FinCen rules, every year the US Treasury wants to know what bank accounts and other financial assets you may have overseas.
Internal Revenue Service
Under the FATCA rules, every year the IRS wants to know what financial and other income-producing assets you have overseas and what income each asset produced.
In 2016, the report to the US Treasury is due on June 30 – no extensions!
In 2017, the report will be due on April 15, with an extension available to October 15.
We specialize in dealing with FinCen and FATCA filings and anything “foreign”. In fact, we receive a number of referrals each year from other accounting firms who choose to avoid this area of practice.