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Name Date READING ACTIVITY 29.1 Cookies Directions: Fill in the blanks as you read the section in the textbook or listen to lectures and view demonstrations. Crisp Cookies 1. 2. Soft Cookies 1. 2.
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R E A D stands for Report of Foreign Bank and Financial Accounts.
U.S. persons with a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file R E A D.
R E A D can be filled out electronically through the FinCEN website by providing accurate and detailed information about foreign financial accounts.
The purpose of R E A D is to combat tax evasion and money laundering by ensuring that U.S. persons report their foreign financial accounts.
Information such as the account number, name on the account, financial institution's name and address, maximum value of the account during the year, and more must be reported on R E A D.
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