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r vflsi stands for Report of Foreign Bank and Financial Accounts, it is a report required by the U.S. Department of the Treasury to report foreign financial accounts.
U.S. persons who have 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 are required to file r vflsi.
r vflsi can be filled out online through the FinCEN website or by mailing a paper form to the U.S. Department of the Treasury.
The purpose of r vflsi is to combat tax evasion and money laundering by providing the U.S. government with information about foreign financial accounts held by U.S. persons.
r vflsi requires reporting the name and address of the foreign financial institution, the account number, the maximum value of the account during the year, and the type of account.
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