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The Elaine Gallagher Scholarship R e co m e n DAT i o n F o r m To The Student Please complete Section One and print the name of the person making the recommendation in Section T Give this form to
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What is r e co m?
R e co m stands for Report of Foreign Bank and Financial Accounts, it is a form filed with the US Treasury Department to report foreign bank accounts.
Who is required to file r e co m?
US persons with financial interest or signature authority over foreign financial accounts with an aggregate value over $10,000 are required to file r e co m.
How to fill out r e co m?
R e co m can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.
What is the purpose of r e co m?
The purpose of r e co m is to prevent tax evasion by US persons using foreign bank accounts to hide assets or income.
What information must be reported on r e co m?
R e co m requires reporting the account holder's name, address, account number, location of the account, and maximum account balance during the reporting period.
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