IAS Global Watch*

February 27, 2010

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United States - Form TD F 90-22.1 (FBAR) reporting suspended for nonresident alien individuals for 2009 and earlier tax years

The US Treasury Department has announced, via Announcement 2010-16, that FBAR filing requirements have been suspended for 2009 and earlier years for nonresident alien individuals (i.e., individuals who are neither US citizens nor residents for income tax purposes at any time during the year) and entities that are not domestic entities. This announcement was released shortly after proposed regulations and draft forms were issued indicating the same result, but which do not have any impact on current requirements.

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Global Watch: United States - Form TD F 90-22.1 (FBAR) reporting suspended for nonresident alien individuals for 2009 and earlier tax years