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US 20060224678A1 (19) United States (12) Patent Application Publication (10) Pub. No.: US 2006/0224678 A1 Hall (54) (43) Pub. Date: WEBBED COMMUNICATIONS Oct. 5, 2006 Publication Class?cation ADDRESSING
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What is 5 network?
5 network is a report filed by businesses to disclose information about foreign financial accounts.
Who is required to file 5 network?
US persons who have a financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the calendar year are required to file 5 network.
How to fill out 5 network?
5 network can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website by providing information about the foreign financial accounts.
What is the purpose of 5 network?
The purpose of 5 network is to combat tax evasion and money laundering by ensuring that US persons report their foreign financial accounts.
What information must be reported on 5 network?
Information such as the account holder's name, address, account number, and maximum value of the account during the reporting year must be reported on 5 network.
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