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NEWS CAPITAL Citation Rouges Community Newspaper NOW ON THE AIR! Radio Baton Rouge NEWS TALK ROCK N ROLL 95.1 FM in Baton Rouge Worldwide Online www.RadioBatonRouge.comAugust 2017 Vol. 27, No. 8 16
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Form AIR is used to report certain foreign financial accounts, including bank accounts, brokerage accounts, and mutual funds, to the IRS.
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U.S. persons, including citizens, resident aliens, and certain non-resident aliens, who have a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file Form AIR.
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Form AIR can be filled out electronically using the BSA E-Filing System or by mailing a paper form to the IRS.
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The purpose of Form AIR is to report foreign financial accounts in order to combat tax evasion and money laundering.
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Form AIR requires filers to provide information such as the account number, type of account, and maximum value of the account during the reporting period.
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