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An R E E L E C T R O N I C S I G N AT U R E S E N F O R C E A B L E BY L AW ? What is a signature, anyway? In the commonly understood meaning of the word, a signature is a persons name or mark written
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A R E E stands for Report of Foreign Bank and Financial Accounts, it is a form used by taxpayers to report their foreign financial accounts to the U.S. government.
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year is required to file a R E E.
The R E E form can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website or by paper and mailed to the IRS.
The purpose of a R E E is to combat tax evasion by providing the U.S. government with information on foreign financial accounts held by U.S. taxpayers.
The R E E requires the taxpayer to report the name of the financial institution where the account is held, the account number, the maximum value of the account during the year, and other specific information about the account.
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