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?e FB;us EO 'AShivalik Public School.(Affiliated to Central Board of Secondary Education, New Delhi) Visit Deter me Na t o GB Ohio NW Ry sector 41 B, Chandigarh 160 036spsTel. No. 01722626913, Fax
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FBU stands for the Foreign Bank Account Report, which is a form that U.S. taxpayers must file to report foreign financial accounts.
U.S. citizens, residents, and certain non-residents who have financial interests in or signature authority over foreign bank accounts with an aggregate value exceeding $10,000 at any time during the calendar year are required to file FBU.
To fill out FBU, you need to gather information about your foreign accounts, including account numbers, names and addresses of the banks, and the maximum value of each account during the year. You can then file electronically using the FinCEN's BSA E-Filing System.
The purpose of FBU is to prevent tax evasion and to provide the U.S. government with information about foreign financial accounts held by U.S. taxpayers.
The FBU requires reporting of personal information of the filer, the bank account number, the financial institution's name and address, and the maximum value of the accounts during the year.
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