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January 2010 Volume 16 Issue 1 R an n c h o S i m i T Ra i l B l an r s A Division of the Rancho Semi Foundation UPCOMING EVENTS Please visit the website at HTTP://simitrailblazers.com for details
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RANC stands for Report of Foreign Bank and Financial Accounts.
Any United States person with a financial interest in or signature authority over foreign financial accounts must file RANC.
RANC can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website.
The purpose of RANC is to report foreign financial accounts over a certain threshold to prevent tax evasion.
RANC requires the reporting of the account holder's information, the account number, the name of the financial institution, and the maximum value of the account in the reporting period.
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