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I N SI D E T H I S I SSR E : V O L U M E 3, I S S U E 1 A U G U S T 2 8, 2 0 0 8 Officer / 2 Committee List Events Calendar 3 President Msg 4 Clambake Info 5 Air side Fundamentals 6,7 Governmental
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What is i n si d?
The term 'i n si d' refers to the Interests in Specified Foreign Financial Assets.
Who is required to file i n si d?
US persons who meet the filing threshold for reporting their interests in specified foreign financial assets are required to file Form 8938 with their tax return.
How to fill out i n si d?
To fill out Form 8938 for reporting your interests in specified foreign financial assets, you will need to provide details such as the type of asset, maximum value during the year, and the foreign financial institution or other entity holding the asset.
What is the purpose of i n si d?
The purpose of reporting interests in specified foreign financial assets is to help prevent tax evasion by US persons who may be hiding assets in foreign countries.
What information must be reported on i n si d?
The information reported on Form 8938 includes details of specified foreign financial assets such as financial accounts, stocks, and securities held in foreign countries.
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