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FRY6 0 MB Number 71000297 Approval expires November 30, 2019-Page 1 of 2Board of Governors of the Federal Reserve Systematical Report of Holding Companies FR Y6 Report at the close of business as
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1 r an t stands for Report of Foreign Bank and Financial Accounts, a form used by taxpayers to report their foreign financial accounts to the IRS.
Any U.S. person who has a financial interest or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year is required to file 1 r an t.
1 r an t can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System or by paper and mailed to the IRS.
The purpose of 1 r an t is to combat tax evasion and money laundering by tracking and reporting foreign financial accounts held by U.S. taxpayers.
Taxpayers must report information about their foreign financial accounts including the name of the financial institution, account number, type of account, and maximum value of the account during the year.
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