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MI SS O F F I CE O F C T GEN Y R M TE FIRE CO STA HE PENNSYLVANIA IA P IO N E R S E R V IC ON EM FE TI E ES SA TY CA TH ROUGH EDU APPLICATION FOR VOLUNTARY RESCUE SERVICE RECOGNITION 1. SERVICE IDENTIFICATION:
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What is o f f i?
O F F I stands for Report of Foreign Bank and Financial Accounts, it is a form used to report foreign financial accounts to the IRS.
Who is required to file o f f i?
U.S. persons, including citizens, residents, and certain entities, who have a financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the year.
How to fill out o f f i?
O F F I can be filled out electronically through the FinCEN BSA E-Filing System or by submitting a paper form to the IRS.
What is the purpose of o f f i?
The purpose of O F F I is to combat tax evasion and money laundering by tracking foreign financial accounts held by U.S. persons.
What information must be reported on o f f i?
Information such as the name of the financial institution, account number, maximum value of the account during the year, and the account's country location must be reported on O F F I.
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