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2011 July 18 – IRS

Information Reporting With Respect to Foreign Financial Assets and Certain Interests in a PFIC
IRS (18 July 2011)


“Any individual who during the taxable year [beginning after March 18, 2010] holds an interest in any specified foreign financial asset is required to attach to his or her income tax return for the taxable year certain required information with respect to each specified foreign financial asset if the aggregate value of all of the individual’s specified foreign financial assets exceeds $50,000.”

Written by usxcanada

18 July 2011 at 6:00 am