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FLORIDA GULF COAST UNIVERSITY Legislative Internship Program REFERENCE RATING APPLICATION REQUIRES RATINGS FROM TWO INDIVIDUALS APPLICANT NAME (Print or Type)PROGRAM OF Studio the applicant: Under
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The FGC (Foreign Grantor Trust) is a form used to report foreign bank and financial accounts.
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts that exceed certain thresholds is required to file FGC.
To fill out the FGC, gather all necessary financial information about foreign accounts, complete the forms with accurate reportable details, and follow IRS instructions for submission.
The purpose of FGC is to ensure that U.S. citizens and residents report their foreign financial accounts to prevent tax evasion and promote transparency.
The FGC must report account numbers, bank names, addresses, the maximum value of each account during the year, and the names of account holders.
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