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If Am : I A K A D A The meaning of IA:CANADA. IA:INK (ya yuk×, meaning six (6) in Mohawk representing the six SOAD regions. A is for Aboriginal, D is for Diabetes and A for Areas. INSIDE THIS ISSUE
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IAK stands for Informational Return of Foreign Financial Assets.
U.S. persons who have a financial interest in or signature authority over foreign financial accounts.
The i a k form can be filled out electronically and must include details about foreign financial accounts.
The purpose of i a k is to report foreign financial accounts in compliance with the Bank Secrecy Act.
Information such as the account number, name of the financial institution, and maximum value of the account must be reported on i a k.
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