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Reporting Square Footage in Carolina
While the North Carolina Real Estate Commission (CREC) doesn't require the
reporting of square footage of properties offered for sale (or rent), Carolina does.
CREC
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What is r e s i?
RESI stands for Report of Foreign Bank and Financial Accounts. It is a form required by the US Department of the Treasury to report foreign financial accounts.
Who is required to file r e s i?
Any US person with a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds is required to file RESI.
How to fill out r e s i?
RESI can be filled out online using the Financial Crimes Enforcement Network (FinCEN) website.
What is the purpose of r e s i?
The purpose of RESI is to prevent tax evasion by US persons holding foreign financial accounts.
What information must be reported on r e s i?
RESI requires information such as the name of the financial institution, account number, and maximum value of the account during the reporting period.
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