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'- --- r e Sacs on 'h C l v Lt late Foundation e urn 990-I F or Section 4947(a)(1) Nonexempt Charitable Trust Form Departmenlollhe G Check all that apply: E Initial return. 2000, and ending July 1
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What is r e?
RE stands for Report of Foreign Bank and Financial Accounts (FBAR). It is a form used to report a financial interest in or signature authority over foreign financial accounts.
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Any U.S. person who has a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year must file FBAR.
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The purpose of FBAR is to combat tax evasion by providing the U.S. government with information about foreign financial accounts held by U.S. persons.
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FBAR requires reporting of the maximum value of each foreign financial account held during the calendar year, as well as detailed information about the account.
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