Private foundations with financial accounts outside U.S. must file FBAR by June 30
Private foundations that have a financial interest in, or a signature or other authority over, one or more financial accounts outside the United States are required to file a Report of Foreign Bank and Financial Accounts (FBAR). The filing must occur on a calendar year basis on or before June 30 of the following year, or you potentially face severe civil, and, in some cases, criminal penalties for noncompliance.
The following article clarifies who must file an FBAR and the types of investments that are required to be reported.