2009-08-21
The IRS has delayed the deadline for FBAR reports related to offshore investment funds held by pension plans and other employee benefit plans.

On August 7, 2009, the Internal Revenue Service (IRS) released Notice 2009-62 which extends, until June 30, 2010, the deadline for a Report of Foreign Bank and Financial Accounts (FBAR) that might have been due, for 2008 and earlier years, with respect to an employee benefit plan's investment in certain offshore investment funds, such as hedge funds and private equity funds. The delay provides an opportunity for the IRS to clarify the FBAR filing requirements with respect to such investments.

The Hewitt bulletin linked to at right discusses Notice 2009-62 in further detail.

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