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COMPANY LETTERHEAD DATE Tim Ryan Chairman, Corporate Sales 2019 U.S. OPEN PEBBLE BEACH COMPANY Post Office Box 2019 Pebble Beach, CA 93953Re: 2019 U.S. Open Championship Corporate Hospitality Program
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Re u stands for Report of Foreign Bank and Financial Accounts (FBAR), which is required by the U.S. Department of Treasury.
Any United States 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 a calendar year.
The FBAR form (FinCEN Form 114) must be electronically filed through the FinCEN's BSA E-Filing System.
The purpose of FBAR is to combat tax evasion by ensuring that U.S. persons with foreign financial accounts comply with reporting requirements.
The FBAR requires reporting the maximum value of each foreign financial account during the calendar year.
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