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The Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Treasury Department, and the Internal Revenue Service (IRS), recently issued three notices, FinCEN Notices 2011-1 and 2011-2 and IRS Notice 2011-54
The final FBAR regulations, effective on March 28, 2011, help to clarify the filing obligations of limited liability companies, trust beneficiaries and those holding signatory authority over foreign financial accounts
