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This video covers IRS Form 8865, filed by U.S. persons with their federal tax return to disclose ownership interests in a foreign partnership. The form is categorized into category one, two, three, and four filers, each with different thresholds and reporting requirements. All filers complete the first two pages, with additional schedules like A1, A2, B, and K for specific types of filers. It is crucial to determine if you are a U.S. person, have an interest in a foreign partnership, and your category filer type before filing.