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29 Mai 2013 N47 F d r a t i o n L u × e m b o u r g e o i s e d e B an s k e t b an l Bulletin information official (BIO) Information Du Conrail administration Compete rend DE la 15e Union Du 13
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FDRA stands for Foreign Account Tax Compliance Act which requires foreign financial institutions to report information about financial accounts held by U.S. taxpayers.
Foreign financial institutions are required to file FDRA.
FDRA is typically filled out electronically through the IRS FATCA portal.
The purpose of FDRA is to prevent tax evasion by U.S. taxpayers using foreign accounts.
FDRA requires reporting on financial accounts held by U.S. taxpayers, including the account balance and income generated.
The deadline to file FDRA in 2024 is March 31st.
The penalty for the late filing of FDRA can range from $10,000 to $50,000 per violation.
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