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May 6, 2013, Attn: PRA Comments Update to the FAR Report Regulatory Policy and Programs Division Financial Crimes Enforcement Network U.S. Department of the Treasury P.O. Box 39 Vienna, VA 22183 RE:
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It is a document containing comments from the American Institute of Certified Public Accountants (AICPA) on changes to the FBAR form.
Individuals and entities with foreign financial accounts exceeding certain thresholds are required to file the FBAR form.
The form must be filled out accurately and completely, including information about foreign financial accounts.
The purpose is to report foreign financial accounts to the IRS to help prevent tax evasion and money laundering.
Information such as account numbers, balances, and details about foreign financial institutions must be reported.
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