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PR L D I ANSI O OG S C DE K R A O FOR M UN PR T IC MTV ELECTRICAL MAINTENANCE TRAINING IN G October 1718, 2016 Toronto, ON October 1920, 2016 Winnipeg, MB October 2425, 2016 Saskatoon, SK October
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RAO stands for Report of Foreign Bank and Financial Accounts. It is used to report a financial interest in or signature authority over foreign financial accounts.
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U.S. persons, including citizens, residents, and entities, with financial interest in or signature authority over foreign financial accounts exceeding certain thresholds.
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The purpose of RAO is to prevent tax evasion and money laundering by providing the government with information about foreign financial accounts held by U.S. persons.
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Information such as account numbers, names of financial institutions, maximum values during the year, and more must be reported on the RAO form.
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