When you have a financial interest in a financial account, it means that you’re the owner of record or holder of legal title of the account. This is true whether or not you’re maintaining the financial account for your benefit or for the benefit of someone else.
You’re considered to have a financial interest when the financial account is owned directly or indirectly by an entity in which you have more than 50 percent interest in the entity’s profits or where you are a trust grantor or the beneficiary of more than 50 percent of the trust.