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PERSONAL BANKING S W I T C H OK 12/2015 K I T Member FDIC PERSONAL BANKING SWITCH KIT Thank you for switching to First! Making the switch to a new bank should be quick and easy. With the First Bank
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What is s w i t?
SWIT stands for Statement of Withholding on Dispositions by Foreign Persons of U.S. Real Property Interests.
Who is required to file s w i t?
Any foreign person who disposes of a U.S. real property interest is required to file SWIT.
How to fill out s w i t?
SWIT can be filled out electronically using the IRS's online system or by submitting a paper form to the IRS.
What is the purpose of s w i t?
The purpose of SWIT is to report and withhold tax on the disposition of U.S. real property interests by foreign persons.
What information must be reported on s w i t?
SWIT must include information about the foreign person, the U.S. real property interest being disposed of, and the withholding tax being applied.
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