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F I F T H E D I T I O N TOWN OF HUNTINGTON's War Heroes: A Guide to Our Towns Historic Veterans Picture: Civil War monument located at the Soldiers and Sailors Memorial Building (228 Main Street)
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f i f t stands for Foreign Bank Account Report, a form required by the IRS to report foreign financial accounts.
Any US person who has a financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the calendar year.
f i f t can be filed electronically through the Bank Secrecy Act (BSA) E-Filing system.
The purpose of f i f t is to combat tax evasion by ensuring that US persons report their foreign financial accounts.
Information such as the account number, name on the account, name and address of the foreign financial institution, and highest value of the account during the year must be reported on f i f t.
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