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R E A L E STAT E M A N AG E M E N T PRO GRAM APPLICATION FOR ADMISSION Please type or print legibly. PLEASE SPECIFY SESSION DATE: Please answer all questions. Application must be fully completed and
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What is real?
REAL stands for Reporting of Foreign Bank and Financial Accounts. It is a requirement by the Financial Crimes Enforcement Network (FinCEN) for U.S. persons to report their financial accounts held outside of the United States if the aggregate value exceeds $10,000 at any time during the calendar year.
Who is required to file real?
U.S. citizens, residents, and entities including but not limited to individuals, corporations, partnerships, and trusts are required to file a Report of Foreign Bank and Financial Accounts (FBAR) if they meet the specified threshold.
How to fill out real?
To fill out the FBAR, you need to provide information about your foreign financial accounts, including the account numbers, the name and address of the foreign financial institution, and the maximum value of each account during the calendar year. The FBAR should be filed electronically through the BSA E-Filing System.
What is the purpose of real?
The purpose of the FBAR requirement is to prevent tax evasion and other illicit activities by U.S. persons who hold financial accounts outside of the United States. It helps the government track, investigate, and deter individuals from hiding money and assets overseas.
What information must be reported on real?
The FBAR requires reporting of foreign financial accounts, including bank accounts, brokerage accounts, mutual funds, trusts, or other types of financial accounts. The information to be reported includes the account numbers, the name and address of the foreign financial institution, and the maximum value of each account during the calendar year.
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