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What is 7500 up3?

7500 UP3 is a form used to report certain foreign financial accounts.

Who is required to file 7500 up3?

Any U.S. person who has a financial interest in or signature authority over one or more foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year is required to file Form 7500 UP3.

How to fill out 7500 up3?

Form 7500 UP3 can be filled out online or manually and must include information about the foreign financial accounts held by the taxpayer.

What is the purpose of 7500 up3?

The purpose of Form 7500 UP3 is to report foreign financial accounts to the IRS in order to combat tax evasion.

What information must be reported on 7500 up3?

Taxpayers must report the highest value of each account during the calendar year, the type of account, and the account number.

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