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2 0 1 6 R AT E C A R D 2014 YO U R D I R E C T C O N N E C T I O N TO M O R E T H A N 3 0 0, 0 0 0 O F A M E R I C A S B E S T C O N S U M E R S O F L U U R Y J E W E L R Y, WAS C H E S, A N D G I
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R at e stands for Report of Foreign Bank and Financial Accounts, it is a form required by the IRS to report foreign financial accounts.
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year.
R at e can be filled out electronically through the Financial Crimes Enforcement Network’s (FinCEN) BSA E-Filing System.
The purpose of r at e is to combat tax evasion and money laundering by providing the IRS with information about foreign financial accounts held by U.S. persons.
Basic information about the account, including the account number, name and address of the financial institution, and the maximum value of the account during the year.
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