Three-dimensional memory device containing compact bit line switch circuit and method of making the same

A semiconductor structure includes a three-dimensional NAND memory array including bit lines and an array of bit line connection switches. Each of the bit line connection switches includes a series connection of a first field effect transistor and a second field effect transistor that include a common active region. A deep active portion of a first active region of the first field effect transistor is vertically coincident with a first outer sidewall of a first dielectric spacer, and a deep active portion of the common active region is laterally spaced from the first dielectric spacer to provide a compact design the each bit line connection switch.