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District of Summer land REGULAR COUNCIL MEETING AGENDA April 12, 2010 7:00 p.m. Council Chambers Municipal Hall, 13211 Henry Ave. Summer land, BC Page 1. 411Adoption of Minutes1.1Adoption of Minutes

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What is summerland?

Summerland is an annual report form that must be filed by certain individuals who have financial interests in foreign countries.

Who is required to file summerland?

US citizens and residents who meet the reporting requirements set by the IRS are required to file summerland.

How to fill out summerland?

Summerland can be filled out electronically using the FinCEN Form 114, which is available on the FinCEN website.

What is the purpose of summerland?

The purpose of summerland is to report foreign financial accounts to the US government in order to combat tax evasion.

What information must be reported on summerland?

Summerland requires reporting of the maximum value of foreign financial accounts maintained at any time during the year, as well as information about the financial institution where the account is held.