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Attorneys Want FBAR Clarification from IRS
Pensions & Investments Aug. 11, 2009 Excerpt: Groom Law Group plans to ask the IRS to clarify a recent announcement postponing until at least June 30, 2010, a requirement for pension plans to report for the first time investments in offshore hedge funds and private equity firms, said Jennifer Eller, an ERISA attorney for the firm. The agency said the filing extension for the Treasury Department's Report of Foreign Bank and Financial Accounts form, or FBAR, applied to some offshore investments made by plans but not by plans holding securities owned through a foreign custody account, Ms. Eller said in an interview. |
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