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What is f ra nc i?
F RA NC I stands for Foreign Bank and Financial Account Report.
Who is required to file f ra nc i?
U.S. persons, including individuals, corporations, partnerships, trusts, and estates, who have a financial interest in or signature authority over foreign financial accounts must file f ra nc i.
How to fill out f ra nc i?
F RA NC I must be completed electronically and submitted to the Financial Crimes Enforcement Network (FinCEN).
What is the purpose of f ra nc i?
The purpose of f ra nc i is to combat money laundering and tax evasion by providing information about foreign financial accounts held by U.S. persons.
What information must be reported on f ra nc i?
F RA NC I requires reporting the maximum value of each foreign financial account held during the year and the country in which the account is located.
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