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FOR INTERNAL USE ONLY DATE: FEARS: BIS: Forest Practices Application Review System Reviewer Notification Profile All individuals, including Department of Natural Resources (DNR) personnel, who want
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fpars stands for Foreign Private Asset and Liability Reporting System. It is a system used for reporting assets and liabilities held outside of the United States by certain individuals and entities.
U.S. residents, including citizens, green card holders, and certain non-residents, such as individuals holding an F-1 visa, are required to file fpars if they meet certain asset and liability thresholds.
fpars can be filled out electronically through the FinCEN website. The form requires detailed information about foreign financial accounts, including the institution name, account number, and maximum value during the reporting period.
The purpose of fpars is to provide the U.S. government with information about foreign financial accounts held by U.S. residents in order to prevent tax evasion, money laundering, and other financial crimes.
Information such as the account holder's name, account number, financial institution name, account balance, and the maximum value of the account during the reporting period must be reported on fpars.
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