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What is f - sfpl?
f - sfpl stands for Foreign Account Tax Compliance Act (FATCA) - Specified Foreign Financial Assets (SFFA) for Passive Foreign Investment Companies (PFICs).
Who is required to file f - sfpl?
U.S. persons who meet the reporting thresholds for foreign financial assets are required to file Form 8938 - Statement of Specified Foreign Financial Assets.
How to fill out f - sfpl?
Form 8938 can be filled out electronically and submitted with the taxpayer's annual federal income tax return.
What is the purpose of f - sfpl?
The purpose of Form 8938 is to report the ownership of specified foreign financial assets that exceed certain thresholds.
What information must be reported on f - sfpl?
Information such as the value of the assets, type of assets, and the maximum value during the tax year must be reported on Form 8938.
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