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The Robert Burns World Federation Newsletter Issue 6 November 2013 I am often asked, particularly by nonScots, where can they hear Burns poems being recited, so they can listen to the vernacular language
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RBWF stands for Report of Foreign Bank and Financial Accounts. It is a form that U.S. persons are required to file to report their foreign financial accounts.
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 RBWF.
RBWF can be filed electronically through the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System. The form requires information about the filer, the type of account, and financial institution information.
The purpose of RBWF is to combat tax evasion by ensuring that U.S. persons with foreign financial accounts report their holdings to the IRS.
The form requires information about the filer, the foreign financial institution where the account is held, the account number, and the maximum value of the account during the year.
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