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Mock Examination CCA F1 / FIA FAB : Accountant in Business Session : June 2014 Set by : Mr Nagel Your Contact Number : I wish to have my script marked by the lecturer and collect the marked script
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What is f1 - saa-ge?
F1 - SAA-GE is a form for reporting foreign bank and financial accounts.
Who is required to file f1 - saa-ge?
Any US 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.
How to fill out f1 - saa-ge?
F1 - SAA-GE can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System or by paper and mailed to the address provided on the form.
What is the purpose of f1 - saa-ge?
The purpose of f1 - saa-ge is to identify individuals who may be using foreign accounts to evade US tax laws and to combat money laundering activities.
What information must be reported on f1 - saa-ge?
The form requires disclosure of the account holder's identifying information, information about the foreign account, and the highest balance of the account during the reporting period.
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