What Is SEC Form 3? SEC Form 3: Initial Statement of Beneficial Ownership of Securities is a document filed by a company insider or major shareholder with the Securities and Exchange Commission (SEC). It is an important step to help regulate insider trading, which is an individual’s buying or selling of a security based on
What Is Form 3903: Moving Expenses? Form 3903 is a tax form created by the Internal Revenue Service (IRS) for tax deductions related to moving expenses due to a new job. Since tax year 2018, you can only deduct moving expenses if you are a member of the Armed Forces on active duty and, due
What Are Foregone Earnings? Foregone earnings represent the difference between earnings actually achieved and the earnings that could have been achieved with the absence of fees, expenses, or lost time. As such, a large portion of foregone is represented by the amount that the investor spent on investment fees, which often make up a sizable percentage of
What Is FATCA? The Foreign Account Tax Compliance Act (FATCA) is a law that requires U.S. citizens living at home or abroad to file annual reports on any foreign account holdings they have. The main goal of FATCA is to stop tax evasion. The FATCA was passed in 2010 as part of the Hiring Incentives
What Is a Foreign Bond? A foreign bond is a bond issued in a domestic market by a foreign entity in the domestic market’s currency as a means of raising capital. For foreign firms doing a large amount of business in the domestic market, issuing foreign bonds, such as bulldog bonds, Matilda bonds, and samurai
What Is a Foreign Bank Branch? A foreign bank branch is a type of foreign bank that is obligated to follow the regulations of both the home and host countries. Because the foreign bank branch has loan limits based on the total bank capital, they can provide more loans than subsidiary banks. That is because
What Is the Foreign Corrupt Practices Act (FCPA)? The Foreign Corrupt Practices Act (FCPA, the Act) is a United States law that prohibits U.S. firms and individuals from paying bribes to foreign officials to further business deals. The FCPA contains two main articles: The anti-bribery provisions The books, records, and internal control provisions, which speaks to accounting
What Is a Foreign Currency Swap? A foreign currency swap is an agreement between two foreign parties to swap interest payments on a loan made in one currency for interest payments on a loan made in another currency. A foreign currency swap can involve exchanging principal, as well. This would be exchanged back when the
What is Foreign Debt? Foreign debt is money borrowed by a government, corporation or private household from another country’s government or private lenders. Foreign debt also includes obligations to international organizations such as the World Bank, Asian Development Bank (ADB), and the International Monetary Fund (IMF). Total foreign debt can be a combination of short-term
What Are Foreign Deposits? The term foreign deposits refers to deposits made by individuals and corporations at or into domestic banks outside the United States. Unlike regular deposits made at domestic branches, these deposits aren’t subject to deposit insurance premiums or reserve requirements. The leniency awarded to foreign deposits regarding deposit insurance and reserve requirements
