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Under The Radar The Monthly Newsletter of Corvette Super Sports Volume 52 number 4 April 2011 Corvette Super Sports is a car club made up of Corvette owners with a passion for a fine driving machine,

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What is under form radar?

Form radar is used to report certain foreign financial accounts to the IRS.

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U.S. persons who have a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file under form radar.

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Form radar can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.

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The purpose of form radar is to combat tax evasion by ensuring that U.S. persons report their foreign financial accounts.

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Information such as the account number, name and address of the foreign bank, and the maximum value of the account during the reporting period must be reported on form radar.

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