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RER RS LES stands for Report of Foreign Bank and Financial Accounts. It is a form required by the US Department of Treasury to report foreign financial accounts held by US persons.
Any US person who has a financial interest in or signature authority over foreign bank accounts or financial accounts must file RER RS LES if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year.
RER RS LES can be filled out electronically using the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.
The purpose of RER RS LES is to combat money laundering, tax evasion, and other financial crimes by providing the US government with information about foreign financial accounts held by US persons.
RER RS LES requires information such as the name and address of the account holder, the name and address of the financial institution where the account is held, the account number, and the maximum value of the account during the year.
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