Final Regulations Clarify FBAR Reporting Requirements

[ Editor's Note: This narrative is derived from Taxation of Financial Institutions § 26.04 (Matthew Bender).] Under the Bank Secrecy Act, financial institutions must report and maintain records for transactions in cash or currency that exceed $10,000. [31 USC § 5313.] The Bank Secrecy...

Final Regulations Clarify FBAR Reporting Requirements

[ Editor's Note: This narrative is derived from Taxation of Financial Institutions § 26.04 (Matthew Bender).] Under the Bank Secrecy Act, financial institutions must report and maintain records for transactions in cash or currency that exceed $10,000. [31 USC § 5313.] The Bank Secrecy...