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January 2010Furman Center for e an l e s that e & u r b an n p o l i c New York University s c h o o l o f l aw wag n e r s c h o o l o f p u b l i c s e r v i c EF u r m an n c e n the r fact s h
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What is fo r r e?
Fo r r e stands for Foreign Account Tax Compliance Act (FATCA), which is a tax law requiring reporting on foreign financial accounts.
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US persons, including individuals, entities, and certain foreign financial institutions, are required to file Fo r r e.
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Fo r r e can be filled out electronically using the IRS's online system or through professional tax software.
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The purpose of Fo r r e is to combat tax evasion by US persons holding assets in foreign financial institutions.
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Information such as the account holder's name, address, account number, and maximum balance must be reported on Fo r r e.
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