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IRS Annual Average Exchange Rate

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IRS Annual Average Exchange Rate

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Old Mar 21st 2026 | 10:08 am
  #16  
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Default Re: IRS Annual Average Exchange Rate

Originally Posted by MMcD
Oh thanks Robin....always file in March so hadn't realised that...but do you have to request the "automatic" extension or do you just do nothing till submission before Oct due date?
No, the extension truly is automatic. You don’t have to request it.

https://www.irs.gov/businesses/small...-accounts-fbar

“The FBAR is an annual report, due April 15 following the calendar year reported. You’re allowed an automatic extension to October 15 if you fail to meet the FBAR annual due date of April 15. You don’t need to request an extension to file the FBAR. “
 
Old Mar 22nd 2026 | 2:31 am
  #17  
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Default Re: IRS Annual Average Exchange Rate

I did check the IRS website but couldn't find anything that would help with my question ... last year the investments I have were transferred from one UK company to another UK company. Do I have to fill out the FBAR form showing both companies? And, wouldn't that then show I had twice the amount of investments that I actually have?
Thank you for any help!
 
Old Mar 22nd 2026 | 3:28 am
  #18  
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Default Re: IRS Annual Average Exchange Rate

Yes, you should report both accounts. The FBAR is reporting only, and will be automatically filed without anyone ever looking at it unless you are a person of interest to the IRS for other reasons in which case you will have ample opportunity to explain the transfer. Likely no human will ever look at it. Nevertheless it is importantly to report ALL accounts each year even if closed during the year.
 
Old Mar 23rd 2026 | 9:12 am
  #19  
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Default Re: IRS Annual Average Exchange Rate

Thank you for getting back to me so quickly. I will go ahead and report both companies/accounts.
 

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