[Code of Federal Regulations]

[Title 31, Volume 1]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR103.24]



[Page 389]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

                       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]