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F M 1 STATEMENT OF FINANCIAL INTERESTS 1998 HI ELEMENT REFLECTS MY FINANCIAL INTERESTS in THE PRE DING TAX YEAR ENDING: CHECK EITHER OR SPECIFY TAX YEAR IF OTHER DECEMBER 31, 1998, THAN THE CALENDAR
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Foreign Bank and Financial Accounts Report (FBAR) statement is also known as f m 1 statement.
Any U.S. person with a financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the calendar year is required to file f m 1 statement.
The f m 1 statement can be filled out electronically through the FinCEN's BSA E-Filing System.
The purpose of the f m 1 statement is to report foreign financial accounts to the IRS.
The f m 1 statement requires reporting the account holder's personal information, the account number, the name and address of the foreign financial institution, and the highest balance in the account during the reporting period.
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