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On Wednesday, February 23, the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the Treasury Department, issued final regulations (the “Final Regulations”) describing the individuals and entities that are required to file Form TD F 90-22.1 – Foreign Bank and Financial Accounts Report (“FBAR”), and the foreign financial accounts that they must report. The Final Regulations are substantively identical to the proposed regulations that were issued on February 26, 2010 (the “Proposed Regulations”). Most significantly, the Final Regulations continue to reserve on whether equity interests in foreign hedge funds, private equity funds, and other non-mutual company investment funds are treated as financial accounts subject to FBAR reporting.