FBAR Delay by 1 Day

[Raj1]

I am delayed in filing my FBAR by one day.

Do I need to give a reason for the delay or not required?

Thanks

Raj

[Anonymous_]

@pk

[pk · Accepted solution]

@Raj1 ,  while you are supposed to file the FBAR  form  in time and willful disregard  of the requirement is punished by excessive fines , it is rarely used.   The idea is to get compliance from taxpayers.  If you missed only once , there is no consequence  but habitual dis-regard is invitation  to shock the taxpayer into compliance.  I do not believe  you need an explanatory note if this is first time but ....

Does that answer the question ?

pk