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Ob s e r vat o r y Hi l In c o r p o r a t e d Journal The Newsletter for the Friends & Neighbors of Observatory Hill The Housing Initiative Is Now Underway By Lynn Scrap After 4 years of planning,
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What is ob s e r?
Ob s e r stands for Report of Foreign Bank and Financial Accounts (FBAR).
Who is required to file ob s e r?
Any United States person who has a financial interest in or signature authority over foreign financial accounts, which exceed certain thresholds, must file FBAR.
How to fill out ob s e r?
FBAR can be filed electronically using the FinCEN BSA E-Filing System.
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The purpose of FBAR is to combat tax evasion by ensuring that United States persons with foreign financial accounts comply with reporting requirements.
What information must be reported on ob s e r?
FBAR requires reporting the maximum value of financial accounts held in foreign financial institutions during the year.
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