Friday, February 12, 2016

Report of Foreign Bank and Financial Accounts (FBAR)

Federal, State, Local and International Taxes - If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account,
mutual fund, trust, or other type of foreign financial account, exceeding certain thresholds, the Bank Secrecy Act may require you to report the account yearly to the Department of Treasury by electronically filing a Financial Crimes Enforcement Network (FinCEN) 114, Report of Foreign Bank and Financial Accounts (FBAR).

If you would like any additional information please feel free to contact me.
Amare Berhie, Senior Tax Accountant
(651) 300-4777, (612)424-1540, (651) 621-5777

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