Statements (50)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
financial reporting requirement
|
| gptkbp:administeredBy |
gptkb:Financial_Crimes_Enforcement_Network
|
| gptkbp:appliesTo |
gptkb:U.S._persons
gptkb:LLCs corporations partnerships U.S. citizens U.S. residents estates trusts joint accounts foreign bank accounts foreign mutual funds foreign brokerage accounts accounts with signature authority entities organized in the U.S. foreign annuity policies foreign insurance policies with cash value foreign pension accounts |
| gptkbp:compatibleWith |
accounts held at U.S. financial institutions
accounts held in U.S. military banking facilities accounts owned by a governmental entity correspondent accounts accounts owned by an international financial institution |
| gptkbp:date |
gptkb:April_15
|
| gptkbp:extensionAvailable |
October 15
|
| gptkbp:filedOnlineWith |
gptkb:BSA_E-Filing_System
|
| gptkbp:filingMethod |
electronic submission
|
| gptkbp:fullName |
gptkb:Foreign_Bank_Account_Report
|
| https://www.w3.org/2000/01/rdf-schema#label |
FBAR reporting
|
| gptkbp:legalBasis |
gptkb:Bank_Secrecy_Act
gptkb:31_U.S.C._§_5314 |
| gptkbp:notFiledWith |
gptkb:IRS
|
| gptkbp:notRequiredIf |
aggregate value does not exceed $10,000
|
| gptkbp:penalty |
criminal penalties
civil penalties |
| gptkbp:penaltyForNonwillfulViolation |
up to $10,000 per violation
|
| gptkbp:penaltyForWillfulViolation |
up to greater of $100,000 or 50% of account balance
|
| gptkbp:publicLawNumber |
gptkb:FinCEN_Form_114
|
| gptkbp:purpose |
increase financial transparency
combat tax evasion |
| gptkbp:relatedTo |
gptkb:FATCA
tax compliance offshore accounts |
| gptkbp:requiredSince |
1970
|
| gptkbp:requires |
gptkb:U.S._Department_of_the_Treasury
|
| gptkbp:threshold |
$10,000 aggregate value
|
| gptkbp:triggeredBy |
foreign financial accounts exceeding $10,000
|
| gptkbp:bfsParent |
gptkb:ZenLedger
|
| gptkbp:bfsLayer |
7
|