Formal or informal in here you are and here it is

I know when we should use 'Here it is and Here you are' and they can be interchangeable for the same meaning and 'Here you go' is an informal version of 'Here you are' and then I was wondering if 'Here you are' is considered as an informal version of 'Here it is' or 'Here it is' is considered as an informal version of 'Here you are'? Or one from the other is not formal and informal? What do you native English speakers think? Thank you so much in advance.