March 10 Conference Call to Discuss Proposed FBAR Regulations

 

 

[24165]

 

March 2, 2010

TO: TAX COMMITTEE No. 6-10
ACCOUNTING/TREASURERS COMMITTEE No. 2-10
INTERNATIONAL COMMITTEE No. 2-10
SEC RULES COMMITTEE No. 11-10
PENSION COMMITTEE No. 5-10     RE: MARCH 10 CONFERENCE CALL TO DISCUSS PROPOSED FBAR REGULATIONS

 

A conference call will be held on Wednesday, March 10, at 2:00 p.m. (Eastern) to discuss the proposed regulations regarding the filing requirements for Form TD F 90-22.1, the Foreign Bank and Financial Accounts Report (“FBAR”).  These regulations, as we previously informed you, [1] provide an FBAR filing exception for an employee of an “Authorized Service Provider” who has signature or other authority over a foreign financial account owned or maintained by an SEC-registered investment company (so long as the person has no financial interest in the account). The call will focus, among other things, on the proposed regulations’ requirement that the Authorized Service Provider be “an entity that is registered with and examined by the [SEC] and that provides services to an investment company registered under the Investment Company Act of 1940.”

 

To participate in the March 10th call, please complete the attached response form and return it to Ezella Wynn by e-mail (ewynn@ici.org) or fax (202-326-5841) no later than 2:00 p.m. on Tuesday March 9, 2010.  The dial-in number for the call is 888-917-8038 and the passcode is 28614.

 

If there are any questions that you would like to discuss pertaining to the abovementioned call, please include your question on the attached response form or contact Karen Gibian (at 202-371-5432 or kgibian@ici.org) or Keith Lawson (at 202-326-5832 or lawson@ici.org).  

 

Keith Lawson
Senior Counsel - Tax Law

Attachment

endnotes

 [1]  See Institute Memorandum [#24156] to Tax Members No. 5-10, Accounting/Treasurers Members No. 10-10, International Members No. 4-10,  SEC Rules Members No. 21-10, and Pension Members No. 6-10, dated February 26, 2010.