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W C B C SA newsletter for current and former members of the Wadham College Boat Cucumber 41 Summer 2012er and other external regattas such as Wallingford. Land training, too, is more structured than
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WCBC stands for Report of Foreign Bank and Financial Accounts, a form used to report a financial interest in or signature authority over foreign financial accounts.
U.S. persons who have 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.
WCBC can be filled out online through the FinCEN BSA E-Filing System or by mailing a paper form to the Financial Crimes Enforcement Network.
The purpose of WCBC is to combat tax evasion by ensuring that U.S. persons report their foreign financial accounts to the IRS.
WCBC requires reporting of the account number, name and address of the financial institution, type of account, and maximum value of the account during the year.
The deadline to file WCBC in 2023 is April 15th.
The penalty for the late filing of WCBC can be up to $10,000 per violation, with potential criminal penalties for willful violations.
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