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R EC R U I T M ENT TERMS OF BUSINESS FOR THE INTRODUCTION OF PERMANENT OR CONTRACT STAFF
TO BE DIRECTLY EMPLOYED BY THE CLIENT
11.1DEFINITIONSIn these Terms of Business the following definitions apply:
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What is r ec r u?
r ec r u stands for Report of Foreign Bank and Financial Accounts.
Who is required to file r ec r u?
Any United States person who has a financial interest in or signature authority over foreign financial accounts must file r ec r u.
How to fill out r ec r u?
r ec r u can be filled out electronically through the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.
What is the purpose of r ec r u?
The purpose of r ec r u is to report foreign financial accounts to the US government to help combat money laundering and tax evasion.
What information must be reported on r ec r u?
The form requires the disclosure of the account holder's name, address, account number, and the highest balance in the account during the reporting period.
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