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IT-257. Complete lines 1, 2, and 3, and all sections that apply (see instructions on the back of this form). 1 Enter the tax year for which you originally reported the ...
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What is it-257?
It-257 is a tax form used for reporting information on foreign accounts.
Who is required to file it-257?
U.S. taxpayers who have foreign financial accounts that meet the reporting threshold are required to file it-257.
How to fill out it-257?
It-257 can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.
What is the purpose of it-257?
The purpose of it-257 is to report information on foreign financial accounts to the IRS in order to combat tax evasion.
What information must be reported on it-257?
Information such as the account owner's name, account number, financial institution, and highest balance must be reported on it-257.
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