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US 20070O886.18A1(19) United States(12) Patent Application Publication (10) Pub. No.: US 2007/0088.618 A1
Benson(43) Pub. Date:(54) DATA COLLECTION AND DISSEMINATION Apr. 19, 2007Publication ClassificationSYSTEM
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What is us 20070o886?
US 20070o886 is a form used by certain individuals or entities to report foreign financial accounts to the Internal Revenue Service (IRS).
Who is required to file us 20070o886?
US citizens, resident aliens, and certain non-resident aliens who have a financial interest in or signature authority over foreign financial accounts that exceed certain thresholds are required to file US 20070o886.
How to fill out us 20070o886?
US 20070o886 can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website or by mailing a paper form to the IRS.
What is the purpose of us 20070o886?
The purpose of US 20070o886 is to help the IRS identify individuals who may be using foreign financial accounts to evade taxes.
What information must be reported on us 20070o886?
US 20070o886 requires the reporting of the maximum value of each foreign financial account during the year and the country where each account is located.
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