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R E D U C ET A E SS A V EM O NEW Section 125Premium Only Plan Tax Savings For You And Your Employees O W E RI N C R E A S EH E A L T HI N S U R A N C EE M P L O Y EE NOW INCLUDES O S TT A K E H O
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What is r e d u?
r e d u stands for Report of Foreign Bank and Financial Accounts, it is a form used to report foreign financial accounts to the IRS.
Who is required to file r e d u?
Any US person who has a financial interest in or signature authority over foreign financial accounts that exceed certain thresholds is required to file r e d u.
How to fill out r e d u?
r e d u can be filled out electronically through the FinCEN BSA E-Filing System.
What is the purpose of r e d u?
The purpose of r e d u is to combat tax evasion and money laundering by US persons holding foreign financial accounts.
What information must be reported on r e d u?
r e d u requires information about the account holder, the account itself, and any financial institution where the account is held.
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