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FLAG CREDIT UN ION3115 Conner Blvd. Tallahassee, Fl 323113813 Phone: (850) 4886781 or (800) 4583524 Text: (850) 2964127 Fax: (850) 9224613 www.flagcu.com Email: info flagcu.com Find a Shared Branch:
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What is flag?
Flag stands for Foreign Bank Account Report. It is a form used to report foreign financial accounts held by US taxpayers.
Who is required to file flag?
US citizens, residents, and certain non-residents who have foreign financial accounts exceeding certain thresholds are required to file a Flag.
How to fill out flag?
Flag can be filled out electronically through the Financial Crimes Enforcement Network (FinCEN) website or by mailing a paper form to the IRS.
What is the purpose of flag?
The purpose of Flag is to combat tax evasion and money laundering by requiring individuals to report their foreign financial accounts.
What information must be reported on flag?
Flag requires reporting of the account owner's name, address, type of account, and maximum account value during the reporting period.
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