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EVENTING 2009 (Place): Collins Companion Event (category): CIC* FRANCE Date: 30/07/09 02/08/09 (NF): Updated December 2008 GENERAL CONDITIONS The event will be run in accordance with: ND FEI Statutes,
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FFE COMPET stands for Foreign Financial Assets Report, and it is a report that individuals who meet the filing requirements must submit to disclose their foreign financial assets.
Any U.S. person, including citizens, resident aliens, and certain nonresident aliens, who has foreign financial assets exceeding the reporting threshold must file FFE COMPET.
The FFE COMPET can be filled out electronically using the Form 8938 provided by the IRS. It requires detailed information about each foreign financial asset, such as the type, value, and income generated.
The purpose of filing FFE COMPET is to provide the IRS with information about an individual's foreign financial assets, helping to prevent tax evasion and ensure compliance with U.S. tax laws.
On the FFE COMPET, you must report each foreign financial asset, including its maximum value during the tax year, the country where it is held, and any income generated from the asset.
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