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S SOUTHERN S STATES U UNIVERSITY S AN DIEGO, LA POLL A, & NEWPORT BE ACH C AM PU S ES STUDENT GUIDE FOR INTENSIVE ENGLISH PROGRAM School Locations: San Diego Campus (Fashion Valley) 123 Camino de
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S ouformrn s tates is a form used to report foreign financial accounts, such as bank accounts, brokerage accounts, and certain other types of financial accounts, to the Internal Revenue Service (IRS).
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U.S. persons, including citizens, resident aliens, and certain non-resident aliens, who have a 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 s ouformrn s tates.
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The purpose of s ouformrn s tates is to help the IRS identify individuals who may be using foreign accounts to evade U.S. tax laws.
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S ouformrn s tates requires the reporting of the account holder's identifying information, the name and address of the financial institution where the account is held, the account number, and the maximum value of the account during the calendar year.
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