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What is 87 5 l d?
87 5 l d refers to an IRS form used for reporting certain foreign financial accounts.
Who is required to file 87 5 l d?
Any U.S. citizen or resident alien, or nonresident alien who meets the substantial presence test, with financial interest in or signature authority over foreign financial accounts exceeding certain thresholds is required to file 87 5 l d.
How to fill out 87 5 l d?
Form 87 5 l d can be filled out electronically and submitted through the FinCEN BSA E-Filing System.
What is the purpose of 87 5 l d?
The purpose of 87 5 l d is to report foreign financial accounts to the IRS to comply with the Bank Secrecy Act.
What information must be reported on 87 5 l d?
The form requires information about the account holder, the account itself, and any other individuals with authority over the account.
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