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Anti-Money Laundering

  • Foreign Bank and Financial Accounts Reporting

    FinCEN regulation 31 CFR § 1010.350 requires the filing of a Report of Foreign Bank and Financial Accounts (FBAR) on a FinCEN Form 114 or FinCEN Form 114a, respectively, by any United States person who has a financial interest in, or signature authority over, any financial account in a foreign country if the aggregate value of the financial accounts exceeds $10,000 at any time during the calendar year. The term “financial account” includes any commodity interest account. The term “United States person” includes any Commission registrant that is a citizen or resident of the United States, domestic partnership, domestic corporation, or a domestic estate or trust. FCMs, IBs, CPOs, CTAs, RFEDs, MSPs and SDs must file FBARs as relevant.

    However, an officer or employee of a financial institution that is registered with and examined by the CFTC is not required to report signature authority over a foreign financial account owned or maintained by the financial institution.

    FBARs must be filed electronically through the BSA E-Filing System.

    Electronic filing instructions for FBAR.