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R e d u c i n g C l an i m s F r AU DSI U To o l s an n d S e RV i c e sSedgwicks Special Investigation Unit fraud detection and control with national coverage. R e s e an RC h s e RV i c BS Pharmacy
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What is r e d u?
R e d u stands for Report of Foreign Bank and Financial Accounts. It is a form used to report a financial interest in or signature authority over a foreign financial account.
Who is required to file r e d u?
U.S. persons including U.S. citizens, residents, and entities must file r e d u if they have a financial interest in or signature authority over foreign financial accounts.
How to fill out r e d u?
R e d u can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website or on paper and mailed to the Internal Revenue Service (IRS).
What is the purpose of r e d u?
The purpose of r e d u is to help prevent tax evasion by providing the IRS with information about foreign financial accounts held by U.S. persons.
What information must be reported on r e d u?
R e d u requires information about the account holder, the financial institution where the account is held, and details about the account itself.
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