Foreign Bank and Financial Accounts Reports (FBARs)
GPTKB entity
Statements (51)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
financial reporting requirement
|
| gptkbp:administeredBy |
gptkb:Financial_Crimes_Enforcement_Network_(FinCEN)
|
| gptkbp:appliesTo |
gptkb:U.S._territories
gptkb:U.S._persons gptkb:U.S._possessions gptkb:limited_liability_companies_(LLCs) corporations individuals partnerships U.S. citizens U.S. residents estates trusts entities organized under U.S. law disregarded entities |
| gptkbp:compatibleWith |
foreign financial accounts used for business by U.S. military banking facility
accounts held at U.S. financial institutions foreign financial accounts below $10,000 aggregate |
| gptkbp:covers |
foreign bank accounts
foreign mutual funds foreign securities accounts other financial accounts outside the U.S. |
| gptkbp:distinctFrom |
gptkb:FATCA
|
| gptkbp:enforcedBy |
gptkb:FinCEN
IRS (for civil enforcement) |
| gptkbp:establishedBy |
gptkb:1970_Bank_Secrecy_Act
|
| gptkbp:extensionAvailable |
October 15
|
| gptkbp:filedElectronicallyWith |
gptkb:FinCEN_BSA_E-Filing_System
|
| gptkbp:filingMethod |
electronic only
|
| https://www.w3.org/2000/01/rdf-schema#label |
Foreign Bank and Financial Accounts Reports (FBARs)
|
| gptkbp:introducedIn |
1970
|
| gptkbp:legalBasis |
gptkb:31_U.S.C._§_5314
31 C.F.R. §§ 1010.350, 1010.306(c) |
| gptkbp:notFiledWith |
gptkb:Internal_Revenue_Service_(IRS)
|
| gptkbp:penalty |
criminal penalties
civil penalties |
| gptkbp:penaltyMaximum |
$10,000 per violation (non-willful violation)
greater of $100,000 or 50% of account balance (willful violation) |
| gptkbp:publicLawNumber |
gptkb:FinCEN_Form_114
|
| gptkbp:purpose |
combat tax evasion
detect money laundering prevent terrorist financing |
| gptkbp:relatedTo |
gptkb:FATCA
|
| gptkbp:reportDueDate |
gptkb:April_15
|
| gptkbp:reportingPeriod |
annual
|
| gptkbp:requires |
gptkb:Bank_Secrecy_Act
financial interest in foreign accounts signature authority over foreign accounts |
| gptkbp:threshold |
aggregate value over $10,000
|
| gptkbp:bfsParent |
gptkb:Financial_Crimes_Enforcement_Network
|
| gptkbp:bfsLayer |
5
|