[Code of Federal Regulations]
[Title 31, Volume 1]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR103.24]

[Page 385]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
                      CHAPTER I--MONETARY OFFICES,
                       DEPARTMENT OF THE TREASURY
 
PART 103_FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN 
TRANSACTIONS--Table of Contents
 
                  Subpart B_Reports Required To Be Made
 
Sec. 103.24  Reports of foreign financial accounts.

    (a) Each person subject to the jurisdiction of the United States 
(except a foreign subsidiary of a U.S. person) having a financial 
interest in, or signature or other authority over, a bank, securities or 
other financial account in a foreign country shall report such 
relationship to the Commissioner of the Internal Revenue for each year 
in which such relationship exists, and shall provide such information as 
shall be specified in a reporting form prescribed by the Secretary to be 
filed by such persons. Persons having a financial interest in 25 or more 
foreign financial accounts need only note that fact on the form. Such 
persons will be required to provide detailed information concerning each 
account when so requested by the Secretary or his delegate.

[42 FR 63774, Dec. 20, 1977, as amended at 52 FR 11443, Apr. 8, 1987; 52 
FR 12641, Apr. 17, 1987]