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RESOLUTION NUMBER ___ (RE: APPOINT MEMBERS TO THE TOWNS SAFETY COMMITTEE FOR THE YEAR 2021) WHEREAS, it is the desire of the Town Board of the Town of Cortland to appoint members to the Towns Safety

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What is r e s o?

r e s o stands for Report of Foreign Bank and Financial Accounts. It is a form used to report foreign financial accounts.

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Any United States 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 is required to file r e s o.

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r e s o can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System or by using the paper form FinCEN Form 114.

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The purpose of r e s o is to combat money laundering and other financial crimes by providing the government with information about foreign financial accounts held by US persons.

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r e s o requires reporting the name and address of the foreign financial institution, the type of account, and the highest value of the account during the year.

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