September 29 2022 finance & accounting
Foreign Bank Account Report (FBAR)
FBAR stands for Report of Foreign Bank and Financial Accounts. One must report their financial accounts to the Treasury Department. Financial accounts such as bank accounts, brokerage accounts and mutual funds need to be reported. These accounts are reported on FinCEN form i.e. Form 114. FinCEN stands for Financial Crimes Enforcement Network. Who must file FBAR …
