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I DA H 0D E P A RT ME N T 0 HEALTH WELFARE C.l. 'BUTCH OTTER Governor RICHARD M. ARMSTRONG Diect0TAMARA PRISOCKADMINISTRATOR DIVISION OF LICENSING & CERTIFICATION DEBRA RANSOM, R.N., R.H.1. T., Chief
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DEPA stands for Report of Foreign Bank and Financial Accounts, which is a form used to report foreign bank and financial accounts to the IRS.
U.S. persons with financial interest in or signatory authority over foreign financial accounts exceeding certain thresholds are required to file DEPA.
DEPA can be filled out electronically through the FinCEN's BSA E-Filing system or by submitting a paper form.
The purpose of DEPA is to prevent tax evasion and money laundering by requiring disclosure of foreign financial accounts.
Information such as the name of the financial institution, the account number, and the maximum value of the account during the reporting period must be reported on DEPA.
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