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SIPHON SCOOP Volume 21, Number 3 November 2016 Newsletter Of the Association of Pediatric/Hematology Oncology Nurses Southern California Chapter “True leadership lies in guiding others to succession

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What is scaphon?

Scaphon is a tax form used to report information about certain financial accounts held by U.S. taxpayers.

Who is required to file scaphon?

U.S. taxpayers who have specified foreign financial accounts exceeding certain thresholds are required to file scaphon.

How to fill out scaphon?

Scaphon can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.

What is the purpose of scaphon?

The purpose of scaphon is to help prevent tax evasion by ensuring that U.S. taxpayers report their foreign financial accounts.

What information must be reported on scaphon?

On scaphon, taxpayers must report details about their foreign financial accounts, such as the account numbers, maximum value during the year, and the financial institution where the account is held.