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K bro k RR a c e C it y of Te OA IN CO R P OR AT ED 1958 2005 March Serving our Country in Iraq Resident Jim Stocks son, Daniel, a member of the U.S. Marine Corps, recently returned from Iraq after
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What is o a k b?
OAKB stands for Report of Foreign Bank and Financial Accounts.
Who is required to file o a k b?
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 is required to file OAKB.
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OAKB can be filed electronically through the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.
What is the purpose of o a k b?
The purpose of OAKB is to report foreign financial accounts and ensure compliance with the Bank Secrecy Act.
What information must be reported on o a k b?
Information such as the account holder's name, address, account number, name of the foreign financial institution, and maximum value of the account during the reporting period must be reported on OAKB.
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