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What is ridg ar?
RIDGAR stands for Report of International Bank and Financial Accounts, it is a form that must be filed with the IRS to report foreign financial accounts.
Who is required to file ridg ar?
US persons with financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the year are required to file a RIDGAR.
How to fill out ridg ar?
RIDGAR can be filled out online using the FinCEN Form 114 or through a tax professional. The form requires information on account numbers, maximum value of accounts, and the name and address of the financial institution.
What is the purpose of ridg ar?
The purpose of RIDGAR is to prevent tax evasion by US persons using foreign financial accounts to hide assets and income.
What information must be reported on ridg ar?
Information such as account numbers, account balances, maximum value of the accounts during the year, and the name and address of the financial institution must be reported on RIDGAR.
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