Any U.S. person having foreign bank accounts with an aggregate value in excess of $10,000 at any time in tax year 2014 is required by law to file annual FBAR (FinCEN Form 114) by June 30, 2015. Any U.S. person (this is not limited to only U.S. citizens) who had foreign accounts (bank, securities, insurance and/or annuity policies, mutual funds, etc.) with aggregate value exceeding $10,000.00 at any time during the year are required to file the FBAR disclosure. Deadlines are strict and there are no extensions. Penalties for failure to file are stiff.