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What is 1 h a n?

1 h a n stands for Foreign Bank Account Report (FBAR), which is a form required by the US Department of the Treasury to report foreign financial accounts.

Who is required to file 1 h a n?

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 is required to file FBAR.

How to fill out 1 h a n?

FBAR can be filed electronically through the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.

What is the purpose of 1 h a n?

The purpose of FBAR is to combat tax evasion by US persons with foreign financial accounts.

What information must be reported on 1 h a n?

FBAR requires reporting the maximum value of each foreign financial account during the calendar year.