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Volume 4
Issue 2
August 2018As we navigate our new century of service our great organization is
faced with many challenges. We have a good idea of where we
want to go in the future and to be able
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What is foreign relations of form?
Foreign relations of form is a document that discloses any foreign financial accounts held by a US person.
Who is required to file foreign relations of form?
Any US person who has a financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the year.
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Foreign relations of form can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.
What is the purpose of foreign relations of form?
The purpose of foreign relations of form is to report foreign financial accounts to the US government in order to prevent tax evasion and money laundering.
What information must be reported on foreign relations of form?
Information such as the name and address of the foreign financial institution, the account number, and the maximum value of the account during the year must be reported on foreign relations of form.
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