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t*atnnf \'\'\"LiNw*b *9JMi#arch* TF* P*yenteGAZETTEDUBLIN1nd t/fi*1 p^ IFrofti THURSDAYcqUeft(*9, to SATURDAYMarchli,YefterdayfomeDifpatches,faid to be of greatImportance, This Morning one Michael
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What is f li?
f li stands for Foreign Bank and Financial Accounts Report (FBAR), which is used to report foreign financial accounts.
Who is required to file f li?
U.S. citizens, residents, and entities that have a financial interest in or signature authority over foreign financial accounts exceeding $10,000 at any time during the calendar year are required to file FBAR.
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f li can be filled out online using the BSA E-Filing System. It requires detailed information about the filer and the foreign accounts.
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The purpose of f li is to prevent tax evasion and promote compliance with U.S. tax laws by reporting foreign financial accounts.
What information must be reported on f li?
The information that must be reported includes the account number, the name of the financial institution, the maximum account balance during the year, and personal identification information of the filer.
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