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Version vom 26. Februar 2025, 19:14 Uhr
Even as individuals breathe a sigh of relief after the conclusion of the tax period, people who have foreign accounts some other foreign financial assets may not yet be through their own tax reporting. The Foreign Bank Account Report (FBAR) is due by June 30th for all qualifying citizens. The FBAR is a disclosure form that is filled by all U.S. citizens, residents, and U.S. entities that own bank accounts, are bank signatories to such accounts, or have a controlling stakes a minimum of one or many foreign bank accounts physically situated outside the borders of this country. The report also includes foreign financial assets, life insurance policy policies, annuity using a cash value, pool funds, and mutual funds.
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