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Florida Department of Agriculture and Consumer Services Agricultural Dealers LicensesADAM H. PUTNAM COMMISSIONERSTATEMENT OF EXEMPTION Section 604.16, Florida Statutes Rule 5J25.009 Phone (850) 6177150;

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What is section 604?

Section 604 is a provision in the tax code that requires certain taxpayers to report specified foreign financial assets to the IRS.

Who is required to file section 604?

U.S. persons, including individuals, corporations, partnerships, and trusts, are required to file section 604 if they meet certain threshold requirements for foreign financial assets.

How to fill out section 604?

Section 604 can be filled out by using Form 8938, Statement of Specified Foreign Financial Assets, and following the instructions provided by the IRS.

What is the purpose of section 604?

The purpose of section 604 is to combat tax evasion by requiring taxpayers to disclose their foreign financial assets to the IRS.

What information must be reported on section 604?

Taxpayers must report the type and value of their specified foreign financial assets, as well as any income generated from those assets.

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