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SEC Form 3UNITED STATES SECURITIES AND EXCHANGE COMMISSIONER 3Washington, D.C. 20549OMB APPROVAL OMB Number:32350104Estimated average burdenINITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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1 06amp 78 is a form used by taxpayers to report certain information related to foreign bank accounts.
US citizens, residents, and certain non-residents who have financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year are required to file Form 1 06amp 78.
Taxpayers can fill out Form 1 06amp 78 by providing information about their foreign financial accounts, including the account number, name of the financial institution, maximum value during the calendar year, and more.
The purpose of Form 1 06amp 78 is to report foreign financial accounts to the Internal Revenue Service (IRS) to help prevent tax evasion.
Taxpayers must report information such as the account number, name of the financial institution, type of account, maximum value during the year, and more on Form 1 06amp 78.
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