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IRS Form 8957 Foreign Account Tax Compliance Act (Fatca) Registration
What Is IRS Form 8957?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on June 1, 2018. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 8957?
A: IRS Form 8957 is the form used for the Foreign Account Tax Compliance Act (FATCA) registration.
Q: What is the Foreign Account Tax Compliance Act (FATCA)?
A: The Foreign Account Tax Compliance Act (FATCA) is a U.S. law that requires foreign financial institutions to report information about U.S. account holders to the IRS.
Q: Who is required to file IRS Form 8957?
A: Foreign financial institutions that are subject to FATCA reporting requirements must file IRS Form 8957.
Q: What information is required to be reported on IRS Form 8957?
A: IRS Form 8957 requires foreign financial institutions to report information such as the name, address, and taxpayer identification number of U.S. account holders.
Q: Are there any penalties for not filing IRS Form 8957?
A: Yes, there are penalties for not filing IRS Form 8957, including potential withholding of U.S. source income and imposition of additional tax liabilities.
Q: Can individuals file IRS Form 8957?
A: No, IRS Form 8957 is specifically for foreign financial institutions and not for individuals.
Q: Is the information reported on IRS Form 8957 confidential?
A: Yes, the information reported on IRS Form 8957 is subject to confidentiality provisions.
Q: Are there any exceptions to FATCA reporting requirements?
A: Yes, there are certain exceptions to FATCA reporting requirements, including certain types of retirement plans and non-financial entities.
Q: Is IRS Form 8957 the only form related to FATCA?
A: No, there are other forms and requirements related to FATCA, such as IRS Form 8938 for individual taxpayers.
Form Details:
- A 4-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 8957 through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 8957 Foreign Account Tax Compliance Act (Fatca) Registration
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