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R E C O R D OF P R O C E E D I N G S MINUTES OF A REGULAR MEETING OF THE BOARD OF DIRECTORS OF HORSESHOE RIDGERESIDENTIAL HOA HELD ON January 26, 2010, A regular meeting of the Board of Directors
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r e c o stands for Report of Foreign Bank and Financial Accounts, it is a form required by the Internal Revenue Service (IRS) for reporting foreign financial accounts.
US persons who have a financial interest in or signature authority over foreign financial accounts that exceed certain thresholds are required to file r e c o.
r e c o can be filled out online through the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.
The purpose of r e c o is to combat tax evasion and money laundering by providing the IRS with information about foreign financial accounts held by US persons.
The information required to be reported on r e c o includes the name of the financial institution where the account is held, the account number, the maximum value of the account during the reporting period, and the account's location.
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