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OFFSHORE OIL & GAS LICENSING ST 31 SEAWARD ROUND Habitats Regulations Assessment Draft Appropriate Assessment: English ChannelFebruary 2019 Crown copyright 2019 This publication is licensed under
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What is 31 seaward?
31 seaward refers to the Report of Foreign Bank and Financial Accounts (FBAR), which is required to be filed by U.S. persons who have financial interests in or signature authority over foreign financial accounts exceeding a certain threshold.
Who is required to file 31 seaward?
U.S. persons, including citizens, residents, and entities, who have foreign bank accounts with an aggregate value that exceeds $10,000 at any point during the calendar year are required to file 31 seaward.
How to fill out 31 seaward?
To fill out 31 seaward, individuals must use the FinCEN Form 114, which can be completed online through the BSA E-Filing System. Filers need to provide information about their foreign accounts, such as account numbers, names and addresses of institutions, maximum account values, and types of accounts.
What is the purpose of 31 seaward?
The purpose of 31 seaward is to prevent money laundering, tax evasion, and other financial crimes by ensuring transparency regarding foreign financial accounts held by U.S. persons.
What information must be reported on 31 seaward?
Individuals must report the names of the foreign financial institutions, account numbers, types of accounts, the maximum value of each account during the reporting period, their addresses, and any other relevant information as required by the form.
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