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TCH Comments to FinCEN on FBAR Reporting Requirements

The Clearing House Association submitted an unsolicited joint trades letter to FinCEN urging the agency to reinstitute a permanent exception to the FBAR filing requirement for employees who have signature authority over employment-related accounts (including accounts of their employer’s affiliates) in which they have no financial interest, in order to avoid significant confusion and uncertainty during the 2012 individual income tax filing season.