The IRS has issued Notice 2006-57, which postpones until October 16, 2006, the due date for filing Form 8898, Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession, for tax years 2001 through 2005:

On April 18, 2006, the IRS released Form 8898, Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession, on which the information reporting required under section 937(c) is to be made. See IRS Announcement 2006- 25, 2006-18 I.R.B. 871.

The instructions to Form 8898 provide that, beginning with tax year 2001, an individual with worldwide gross income of more than $75,000 must file Form 8898 for the tax year in which the individual becomes or ceases to be a bona fide resident of a U.S. possession. The due date prescribed in the instructions for filing Form 8898 is the due date (including extensions) for filing Form 1040 or Form 1040NR, except that for tax years 2001 through 2005, Form 8898 must be filed by July 17, 2006 (or, for 2005, any extended due date).

Since release of Form 8898, taxpayers have expressed the view that in a significant number of cases, the prescribed due date will not allow adequate time to gather and comply with the information reporting requirements of Form 8898 for prior years.

The IRS has granted a postponement of time for taxpayers to file Form 8898 for tax years 2001 through 2005 until the automatic extended due date (irrespective of whether the taxpayer applied for an extension) for filing Form 1040 or Form 1040NR for the 2005 calendar year. Accordingly, taxpayers who changed their residence to or from a U.S. possession during any of those tax years must file Form 8898 by October 16, 2006.