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The rules
have
CHANGED! F O R P RI V AT E DRUG PLANS
IN QUE BEC WITH A GENERIC
S U BS T I T UT I O N C L A U SEATS NEW? Last April, the government of Quebec adopted a bill that impacts private drug
plans
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What is f o r p?
F O R P stands for Foreign Bank Account Report. It is a report that U.S. persons are required to file if they have a financial interest in or signature authority over foreign financial accounts.
Who is required to file f o r p?
U.S. persons, including citizens, residents, and entities, who meet the reporting thresholds for foreign financial accounts are required to file F O R P.
How to fill out f o r p?
F O R P must be filed electronically through the Financial Crimes Enforcement Network's BSA E-Filing System. The form requires detailed information about the foreign financial accounts.
What is the purpose of f o r p?
The purpose of F O R P is to help the U.S. government combat tax evasion and money laundering by providing information about foreign financial accounts held by U.S. persons.
What information must be reported on f o r p?
F O R P requires the reporting of the maximum value of each foreign financial account during the reporting period, as well as detailed information about the account itself.
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