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Ruby on Rails Frank Tin 2008 Vela Systems Company Confidential Do Not Distribute Without Express Written Permissions Definitions Ruby Programming language Object oriented Interpreted Rails A framework
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Frank Tino is a financial reporting form that needs to be filed by certain individuals or entities to report foreign bank and financial accounts.
US persons including citizens, residents, and entities that have a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the year are required to file Frank Tino.
Frank Tino can be filled out electronically through the Financial Crimes Enforcement Network (FinCEN) website by providing the required information about the foreign financial accounts.
The purpose of Frank Tino is to combat tax evasion and money laundering by requiring individuals to disclose their foreign financial accounts.
The information that must be reported on Frank Tino includes the account number, name on the account, name and address of the foreign financial institution, and the maximum value of the account during the reporting period.
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