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City of Albany e c r e at i o n & c o m m u n i t y s e r v i c BS Summer 2018zmijak/stockpots.cirque summer Camp Expo the greatest camp expo on earth juggle your summer schedule in one grand family
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RECR stands for Report of Foreign Bank and Financial Accounts, it is a form used to report foreign financial accounts.
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the calendar year is required to file RECR.
RECR can be filled out electronically through the Financial Crimes Enforcement Network (FinCEN) website. The form requires information about the account, including the account number, name of the bank, and maximum value of the account during the year.
The purpose of RECR is to prevent tax evasion and money laundering by providing the government with information about foreign financial accounts held by U.S. persons.
The information required to be reported on RECR includes the account number, name of the financial institution, type of account, and maximum value of the account during the reporting period.
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