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Welchert and Britz is a report that discloses foreign financial accounts.
U.S. persons with financial interest in or signature authority over foreign financial accounts are required to file Welchert and Britz.
Welchert and Britz can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website.
The purpose of Welchert and Britz is to combat money laundering and tax evasion by providing transparency on foreign financial accounts.
Welchert and Britz requires information such as the account holder's name, account number, financial institution's name and address, and maximum value of the account during the year.
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