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R3414RESOLUTION OF THE COUNCIL OF THE CITY OF BOWIE, MARYLAND APPROVING AN AGREEMENT BETWEEN THE CITY AND THE AMERICAN FEDERATION OF STATE, COUNTY AND MUNICIPAL EMPLOYEES, COUNCIL 67, LOCAL 1209WHEREAS,

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What is reso?

Reso stands for Report of Foreign Bank and Financial Accounts.

Who is required to file reso?

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 reso.

How to fill out reso?

Reso can be filled out electronically using the Financial Crimes Enforcement Network (FinCEN) website.

What is the purpose of reso?

The purpose of reso is to report foreign financial accounts to the Department of the Treasury in order to combat money laundering and terrorist financing.

What information must be reported on reso?

Information such as the account number, name of the financial institution, maximum value of the account during the year, and the account holder's information must be reported on reso.

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