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What is 5 fa?
5 fa stands for Foreign Account Tax Compliance Act, which is a United States federal law requiring foreign financial institutions to report on the foreign assets held by their US account holders.
Who is required to file 5 fa?
Foreign financial institutions are required to file 5 fa to comply with the law.
How to fill out 5 fa?
5 fa can be filled out electronically through the IRS FATCA Portal.
What is the purpose of 5 fa?
The purpose of 5 fa is to prevent tax evasion by US taxpayers using foreign accounts.
What information must be reported on 5 fa?
Foreign financial institutions must report information on US account holders, including their account balances and income.
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