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As Introduced
131st General Assembly
Regular Session. B. No. 46320152016
Representative Never
Cosponsors: Representatives Becker, Boccie, Hamlet, Percales, Prague Bills
To amend sections 323.47, 1303.16,
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What is and 5721?
And 5721 is a form used for reporting transactions involving certain foreign accounts and assets to the IRS.
Who is required to file and 5721?
U.S. persons, including citizens, residents, and entities, with certain foreign financial accounts or assets are required to file and 5721.
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And 5721 can be filled out electronically using the BSA E-Filing system provided by the Financial Crimes Enforcement Network (FinCEN).
What is the purpose of and 5721?
The purpose of and 5721 is to help the IRS identify individuals and entities with foreign financial accounts or assets and ensure compliance with tax laws.
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Information such as the account holder's name, account number, financial institution, and maximum value of the account must be reported on and 5721.
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