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ASSOCIATED STUDENTS OF IDAHO STATE UNIVERSITY STUDENT SENATE SESSION XIII TERM II IN THE SENATE BILL 377 BY KRISTIE CHUMP DIVISION OF HEALTH SCIENCES SPONSORED KRISTIE CHUMP DIVISION OF HEALTH SCIENCES SHANE
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Bill 377 is a form that needs to be filed by certain individuals to report specified foreign financial accounts.
US citizens, residents, and certain non-residents who have a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file bill 377.
Bill 377 can be filled out electronically through the Financial Crimes Enforcement Network (FinCEN) website.
The purpose of bill 377 is to prevent tax evasion and money laundering by ensuring that foreign financial accounts are properly reported.
Bill 377 requires the reporting of the account owner's information, the financial institution where the account is held, and the highest balance in the account during the reporting period.
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