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An Act ENROLLED HOUSE BILL NO. 1310By: Richardson of the House and Fields of the Senate Act relating to professions and occupations; amending 59 O.S. 2001, Sections 698.2 and 698.12, as last amended
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The Richardson form is a statement of financial assets that must be filed by certain individuals with foreign financial accounts.
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts that exceed certain thresholds must file the Richardson form.
The Richardson form can be filled out online through the IRS's website or by mailing in a paper form. The form requires information about the account holder, the financial institution, and details about the foreign financial account.
The purpose of the Richardson form is to report the existence of foreign financial accounts to the IRS and to disclose any income generated from those accounts.
The Richardson form requires information about the account holder, the financial institution, the account number, the maximum value of the account during the year, and any income generated from the account.
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