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AUSTRALIA $1.50 Canada $1.50 France 1.00 euro New Zealand $1.50 UK .50 u.s. $1.00INSIDEWhat does Cuba teach? That revolution is possiblePAGE 7A S O CI AL I S T NE WS WE EK L Y PU B L IS H E D IN TH
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What is 50 u?
50 u refers to a specific form used for reporting foreign financial accounts to the Internal Revenue Service (IRS).
Who is required to file 50 u?
US persons with a financial interest in or signature authority over foreign financial accounts exceeding $10,000 at any time during the calendar year are required to file Form 50 u.
How to fill out 50 u?
Form 50 u can be filled out electronically using the BSA E-Filing System provided by the Financial Crimes Enforcement Network (FinCEN).
What is the purpose of 50 u?
The purpose of Form 50 u is to combat money laundering and tax evasion by ensuring that US persons report their foreign financial accounts.
What information must be reported on 50 u?
Form 50 u requires the reporting of information such as the account number, name of the foreign financial institution, maximum value of the account during the year, and the account holder's identifying information.
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