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COUNCIL FILE NO. I1 i 1f!5COUNCIL DISTRICT NO. /APPROVAL FOR ACCELERATED PROCESSING DIRECT TO CITY COUNCIL The attached Council File may be processed directly to Council pursuant to the procedure
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The i1- i 1f is a form used to report information related to foreign financial assets.
Any U.S. person who holds foreign financial assets with an aggregate value of $10,000 or more at any time during the tax year is required to file the i1- i 1f.
The i1- i 1f can be filled out electronically or on paper by providing information about the foreign financial assets held.
The purpose of the i1- i 1f is to help the IRS identify foreign financial assets that may be subject to reporting and taxation.
Information such as the type of foreign financial asset, its maximum value during the tax year, and the location where it is held must be reported on the i1- i 1f.
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