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f - sfpl stands for Foreign Account Tax Compliance Act (FATCA) - Specified Foreign Financial Assets (SFFA) for Passive Foreign Investment Companies (PFICs).
U.S. persons who meet the reporting thresholds for foreign financial assets are required to file Form 8938 - Statement of Specified Foreign Financial Assets.
Form 8938 can be filled out electronically and submitted with the taxpayer's annual federal income tax return.
The purpose of Form 8938 is to report the ownership of specified foreign financial assets that exceed certain thresholds.
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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