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W E AR CO E C T M E N T O F N F I A For official use only, 20 Last name If a joint return, spouses first name and initial N A, 2015, ending Your first name and initial Last name See separate instructions
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What is h o f t?
HOFT stands for Report of Foreign Bank and Financial Accounts, which is a form used by U.S. persons to report their foreign financial accounts to the IRS.
Who is required to file h o f t?
U.S. persons, including citizens, residents, and entities, who have 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, are required to file HOFT.
How to fill out h o f t?
HOFT can be filled out electronically through the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.
What is the purpose of h o f t?
The purpose of HOFT is to combat tax evasion by providing the IRS with information about foreign financial accounts held by U.S. persons.
What information must be reported on h o f t?
HOFT requires the reporting of the account holder's personal information, the details of the foreign financial accounts, and any financial institution where the account is held.
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