Foreign Bank Account Reports (FBARs) Due June 30, 2010

Sonnenschein Nath & Rosenthal – 22/06/2010

Each U.S. person who, during calendar year 2009, had a "financial interest" in, or "signature or other authority over," a financial account in a foreign country must file an FBAR with the U.S. Department of the Treasury no later than June 30, 2010. The obligation to file is applicable if, during calendar year 2009, the aggregate amount in one or more foreign financial accounts exceeded $10,000.

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