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F:::;::: Los 1/1 I Angeles World Airports Report to the BOARD OF AIRPORT COMMISSIONERS Meeting Date: December 3, 2012, D GAO Review: TG D Reviewed for Capital Budget Operating Budget CEA Procurement
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FLOS stands for Foreign Bank and Financial Accounts Report.
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.
Filing the FBAR can be done electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.
The purpose of filing FBAR is to report foreign financial accounts to the U.S. government in order to combat money laundering, tax evasion, and other financial crimes.
The FBAR requires reporting the maximum value of each foreign financial account during the calendar year, as well as information about the account holder.
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