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ASSOCIATION OF INTERNATIONAL DANCE TEACHERS APPLICATION FOR ASSOCIATE 1C TAP Please complete and forward to the office together with the following documentation: 1) Copy of Membership Card for current
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What is associate 1c tap?
Associate 1c tap is a form used to report foreign financial accounts to the Internal Revenue Service (IRS).
Who is required to file associate 1c tap?
U.S. persons, including individuals, corporations, partnerships, and trusts, who have a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file associate 1c tap.
How to fill out associate 1c tap?
Associate 1c tap can be filled out electronically using the Treasury Department's BSA E-Filing system. The form requires information about the account holder, the account itself, and details about the financial institution where the account is held.
What is the purpose of associate 1c tap?
The purpose of associate 1c tap is to combat tax evasion by ensuring that U.S. persons with foreign financial accounts comply with reporting requirements and disclose their foreign assets.
What information must be reported on associate 1c tap?
Information that must be reported on associate 1c tap includes the account holder's name, address, account number, the name and address of the foreign financial institution, and the highest value of the account during the reporting period.
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