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What is r e d e?
r e d e stands for Report of Foreign Bank and Financial Accounts. It is a form used by United States persons to report their foreign financial accounts to the U.S. Department of Treasury.
Who is required to file r e d e?
Any United States person who has a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds must file r e d e.
How to fill out r e d e?
r e d e can be filled out electronically through the FinCEN's BSA E-Filing System. The form requires the disclosure of information such as account numbers, names of financial institutions, and maximum values of accounts.
What is the purpose of r e d e?
The purpose of r e d e is to prevent tax evasion and money laundering by providing the U.S. government with information about foreign financial accounts held by U.S. persons.
What information must be reported on r e d e?
r e d e requires the reporting of the maximum value of each foreign financial account during the reporting period, the country in which each account is located, and the name of the financial institution holding the account.
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