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NORTH DAKOTA DEPARTMENT OF HUMAN SERVICES
BISMARCK, NORTH DAKOTA
July 25, 2016,
I'm 5281
TO:County Social Service Directors
Economic Assistance Policy Regional Representatives
Economic Assistance
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What is im 5281?
IM 5281 is a form used by individuals who have foreign financial accounts to report their information to the IRS.
Who is required to file im 5281?
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year is required to file IM 5281.
How to fill out im 5281?
IM 5281 can be filled out online or printed and filled out manually. The form requires information such as the account numbers, the maximum value of the account during the year, and details about the financial institution holding the account.
What is the purpose of im 5281?
The purpose of IM 5281 is to report foreign financial accounts to the IRS to ensure compliance with tax laws and to prevent tax evasion.
What information must be reported on im 5281?
Information such as the account numbers, the maximum value of the account during the year, and details about the financial institution holding the account must be reported on IM 5281.
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