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Stricken language would be deleted from and underlined language would be added to present law. Act 886 of the Regular Sessions Engrossed:1State of Arkansas291st General Assembly3Regular Session, 2017H3/15/17A
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Act 886 form is a document used to report foreign bank and financial accounts.
US persons including individuals, corporations, partnerships, and trusts who have a financial interest in or signature authority over foreign financial accounts.
The form requires information about the account holder, the financial institution, and details about the account.
The purpose of the form is to help prevent tax evasion by US persons through foreign accounts.
Information such as account number, name of financial institution, account balance, and income generated from the account.
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