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Original: Employee Copy: Principal Team/Mentor/Others HR-119 Revised: 09/2004
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HR-119 is a form used for reporting information on foreign bank accounts.
Any U.S. person who has a financial interest in or signature authority over one or more foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year.
The form can be filled out online or mailed to the IRS. It requires information about the account holder, account details, and any income generated from the account.
The purpose of HR-119 is to report foreign financial accounts and help prevent tax evasion.
Information such as the account holder's name, account number, type of account, and maximum value of the account during the year.
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