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//www.stgeorgemarathon.comWe l c o m e / / E × P O 2 0 1 8 The Altar Zero Drop Running & Fitness Expo will be held in conjunction with the 42nd St. George Marathon. Last year's Expo was extremely
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What is we l c o?
WE L C O stands for Report of Foreign Bank and Financial Accounts (FBAR). It is a form that must be filed annually with the Financial Crimes Enforcement Network (FinCEN) to report foreign financial accounts.
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Any United States person who has a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year is required to file FBAR.
How to fill out we l c o?
FBAR can be filed electronically through the BSA E-Filing System on the FinCEN website. The form requires detailed information about the foreign financial accounts, including the account number, name and address of the financial institution, and maximum value of the account during the reporting period.
What is the purpose of we l c o?
The purpose of FBAR is to combat money laundering, tax evasion, and other financial crimes by requiring individuals to disclose their foreign financial accounts to the U.S. government.
What information must be reported on we l c o?
FBAR requires reporting of the maximum value of each foreign financial account during the calendar year, as well as the account number, name and address of the foreign financial institution, and the type of account.
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