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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549FORM 3INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES OMB APPROVAL OMB Number: 32350104 Estimated average burden hours
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Yen yun, also known as the Foreign Bank Account Report (FBAR) in some contexts, is a form used by certain individuals and entities to report foreign financial accounts.
U.S. persons, including citizens, residents, and certain trusts and estates with foreign financial accounts exceeding a specified threshold, are required to file yen yun.
To fill out yen yun, individuals must complete the designated form accurately, providing detailed information about all foreign financial accounts held.
The purpose of yen yun is to report foreign financial accounts to prevent tax evasion and ensure compliance with U.S. tax laws.
Information reported on yen yun includes details about account holders, account numbers, financial institution names, and the highest balance during the reporting period.
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