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CONGRESSIONAL RECORD HOUSE .22016sources of their incomes, the value of their assets, Ana their dealings in securities and commodities; to the Committee on Rules. By Mr. WRIGHT: H.R.17575. A bill
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What is abatex pools?
Abatex pools is a tax form used to report foreign financial accounts.
Who is required to file abatex pools?
US persons including individuals, corporations, partnerships, and trusts are required to file abatex pools if they have a financial interest in or signature authority over foreign financial accounts.
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Abatex pools can be filled out electronically through the FinCEN website or submitted by mail to the Department of the Treasury.
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The purpose of abatex pools is to prevent tax evasion by US persons using foreign financial accounts.
What information must be reported on abatex pools?
Abatex pools requires the reporting of the account holder's name, address, account number, and the maximum value of the account during the reporting period.
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