Based on some known facts of integrable models, this paper proposes a new (2+1)-dimensional bilinear model equation. By virtue of the formal series symmetry approach, the new model is proved to be integrable because of the existence of the higher order symmetries. The Lie point symmetries of the model constitute an infinite dimensional Kac-Moody-Virasoro symmetry algebra. Making use of the infinite Lie point symmetries, the possible symmetry reductions of the model are also studied.