Just as a footnote to the delay in the FATCA effective due date, I note no word from the IRS about an extension to the Offshore Voluntary Disclosure Initiative (OVDI).

This is currently set to expire on August 31, 2011.

If you are unsure about what this means for you, please contact me. I have a lot of valuable information about when voluntary disclosures using OVDI can, cannot, should, and should not be used.

In addition, the disclosure cannot simply be ‘made’. Pre-clearance is required from the respective department in the government’s agency, the IRS.