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Instructions for IRS Form 8966
for the current year.
Instructions for IRS Form 8966 Fatca Report
This document contains official instructions for IRS Form 8966 , Fatca Report - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.
FAQ
Q: What is IRS Form 8966?
A: IRS Form 8966, also known as FATCA Report, is a form used by financial institutions to report information about their foreign account holders.
Q: Who needs to file IRS Form 8966?
A: Financial institutions, including banks and other financial entities, that have foreign account holders need to file IRS Form 8966.
Q: What information needs to be reported on IRS Form 8966?
A: IRS Form 8966 requires financial institutions to report information about their foreign account holders, including their name, address, taxpayer identification number, and account balance.
Q: When is the deadline to file IRS Form 8966?
A: The deadline to file IRS Form 8966 is March 31st of each year.
Q: Can IRS Form 8966 be filed electronically?
A: Yes, financial institutions can file IRS Form 8966 electronically through the IRS's International Data Exchange Service (IDES).
Q: What are the penalties for not filing IRS Form 8966?
A: Financial institutions may face penalties for failing to file IRS Form 8966, including monetary penalties and potential loss of their Foreign Financial Institution (FFI) status.
Instruction Details:
- This 13-page document is available for download in PDF;
- Not applicable for the current tax year. Choose a more recent version to file this year's taxes;
- Complete, printable, and free.
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