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SEC Form 3 UNITEDSTATESSECURITIESANDEXCHANGE COMMISSION FORM3 APPROVAL OMB Number: Washington, D.C.20549 INITIALSTATEMENTOFBENEFICIALOWNERSHIP SECURITIES 32350104 Expires: December 31, 2014, Estimatedaverageburden
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What is form 3 - about?
Form 3 is a document that must be filed with the IRS by certain individuals or entities to report foreign bank and financial accounts.
Who is required to file form 3 - about?
Individuals or entities who have a financial interest in or signature authority over foreign bank and financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year are required to file form 3.
How to fill out form 3 - about?
Form 3 can be filled out electronically on the Financial Crimes Enforcement Network (FinCEN) website. Detailed instructions are provided on the website to guide individuals through the process.
What is the purpose of form 3 - about?
The purpose of form 3 is to help the IRS identify individuals or entities who may be using foreign bank accounts to evade taxes or engage in other financial crimes.
What information must be reported on form 3 - about?
Form 3 requires individuals to report the name of the foreign financial institution, the account number, and the maximum value of the account during the calendar year.
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