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Form 114 is used to report information related to foreign bank accounts.
U.S. persons with a financial interest in or signature authority over foreign financial accounts are required to file Form 114.
Answers to Form 114 can be filled out electronically through the Financial Crimes Enforcement Network's website.
The purpose of Form 114 is to collect information on foreign financial accounts as required by the Bank Secrecy Act.
Information such as the name of the financial institution, account number, maximum value during the reporting period, and other details about the foreign account must be reported on Form 114.
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