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LOC Disbursal Authorization Date Name Account Number Please accept this letter as authorization to disburse loan proceeds on my LOC loan account in the amount of $. Please deposit these funds in my
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Myowncu stands for 'Report of Foreign Bank and Financial Accounts'. It is a form required by the U.S. Department of the Treasury to report foreign financial accounts.
U.S. persons, including citizens, residents, and entities, must file myowncu if they have a financial interest in or signature authority over foreign financial accounts.
Myowncu can be filled out online through the Financial Crimes Enforcement Network's BSA E-Filing System. Detailed instructions are provided on the form.
The purpose of myowncu is to help prevent tax evasion, money laundering, and other financial crimes by providing the government with information about foreign financial accounts held by U.S. persons.
Myowncu requires information about the account holder, the account itself, and any other individuals with an interest in the account.
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