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Xthal is a form used for reporting financial assets held outside the United States.
Any U.S. taxpayer who has 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 is required to file xthal.
Xthal can be filled out electronically using the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.
The purpose of xthal is to combat tax evasion and money laundering by ensuring that U.S. taxpayers accurately report their foreign financial assets.
Information such as the account holder's name, address, and social security number, as well as details about the foreign financial account itself.
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