Those who choose to keep money in foreign banks may need to file a Report of Foreign Bank and Financial Accounts Report (FBAR). The FBAR is a tool used by the federal government to identify ...
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FBAR compliance: Reporting your foreign bank accountsAn FBAR is used to report foreign financial accounts to the federal government, which uses this information to ensure transparency and compliance with U.S. tax and other laws. A U.S. person must ...
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