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Shower of Blessings Evangelistic Ministry USA Partner Churches in Mid West and South United States Name Chinese Bible Church of Oak Park Chinese Christian Union Church-Chinatown Fort Bend Community
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Sobem USA stands for Statement of Foreign Bank and Financial Accounts. It is a form required by the U.S. Department of the Treasury to report foreign financial accounts.
U.S. persons, including citizens, residents, and entities, with financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file the FBAR form.
The FBAR form can be filed electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.
The purpose of FBAR is to combat tax evasion and money laundering by ensuring that U.S. persons report their foreign financial accounts.
The FBAR form requires reporting the maximum value of each foreign financial account during the reporting period, as well as the account holder's information.
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