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UNITED STATES OMB APPROVAL Outnumber: 32350123SECURITIESANDEXCHANGECOMMISSION Washington, D.C.20549ANNUAL AUDITED 15045538sExpires:March 31, 2016, Estimated average burdened. RT SEChoursperresponse......12.00iwall
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rt sec stands for Report of Foreign Bank and Financial Accounts, it is a form used to report foreign financial accounts to the IRS.
US persons who have a financial interest in or signature authority over foreign financial accounts that exceed certain thresholds are required to file rt sec.
rt sec can be filled out electronically through the FinCEN BSA E-Filing System. Detailed instructions are provided on the official IRS website.
The purpose of rt sec is to combat tax evasion by ensuring that US persons report their foreign financial accounts to the IRS.
rt sec requires information such as the name of the financial institution where the account is held, the account number, and the maximum value of the account during the reporting period.
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