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MO A B L O G G I V E A W A Y BLOG ENTRY O F F I C I AL R U L E S NO P UR CH AS E O R P A M E NT NE CE S AR Y. A PU R CH AS E O F AN Y K IN D W ILL NO T IN CR E AS E Y O U R CH AN C E S O F W I IN
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O F F I stands for Report of Foreign Financial Accounts.
U.S. persons, including citizens, residents, and entities, with financial interest or signature authority over foreign financial accounts must file O F F I.
O F F I can be filled out electronically through the Financial Crimes Enforcement Network (FinCEN) website.
The purpose of O F F I is to report foreign financial accounts to help prevent money laundering and terrorist financing.
Information such as the account number, name of financial institution, account balance, and the maximum value during the reporting period must be reported on O F F I.
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