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ISSUE 15 F E B R U A RY2017Quinns Baptist CollegeNewsletterWhats Inside Principals Report1Calendar of Events2Notices / Reminders3&4Community & Compassion5&6Bibbulmun Hike7Student Leadership8Busselton
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5 f e b stands for FinCEN Form 114, also known as the Report of Foreign Bank and Financial Accounts (FBAR).
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 the calendar year must file FBAR.
FBAR can be filled out electronically through the Financial Crimes Enforcement Network (FinCEN) website.
The purpose of FBAR is to report foreign financial accounts to prevent tax evasion, money laundering, and other financial crimes.
FBAR requires information about the filer, the foreign financial accounts, and when the account(s) exceeded $10,000.
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