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NATIONAL BANK OF KUWAIT CARDHOLDER TRIP TRAVEL INSURANCE Scope of Cover In consideration of the payment of the required premium, the Bunyan Tactful Insurance Company, Kuwait hereby agree with the
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1 national bank is a document that reports any foreign financial accounts held by a US person.
Any US person who has a financial interest in or signature authority over one or more foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year.
The form requires information about the account such as the name of the financial institution, account number, maximum value during the year, and type of account.
The purpose is to report foreign financial accounts to the IRS in order to combat tax evasion.
Accounts held at foreign financial institutions, such as bank accounts, brokerage accounts, mutual funds.
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