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111111111111111UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 2054914046157OMB APPROVAL OMB Number: 32350123 Expires: March31,2016 Estimated average burden hours her response ......
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VSO-5 is a form used for reporting foreign financial accounts to the Internal Revenue Service (IRS).
U.S. persons, including individuals, corporations, partnerships, and trusts, who have a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file a v so 5 form.
VSO-5 can be filled out electronically using the FinCEN Form 114 through the BSA E-Filing System or by submitting a paper Form 114.
The purpose of v so 5 is to report foreign financial accounts to the IRS in order to combat tax evasion and money laundering.
VSO-5 requires information such as the name and address of the account holder, the financial institution's name and address, the account number, and the maximum value of the account during the reporting period.
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