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Questions? Call: 800.481.3389 USA & Canada 719.481.3389 International 719.481.8069 FAX Colorado Software Summit 2006 October 22 27, 2006 Please fill out this form completely, and print or type all
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The 3389 form is used to report certain financial accounts held by U.S. taxpayers in Canada. It is required under the Foreign Account Tax Compliance Act (FATCA).
U.S. taxpayers who have financial accounts in Canada with an aggregate value exceeding certain thresholds are required to file Form 3389. This includes individuals, corporations, partnerships, trusts, and estates.
To fill out Form 3389, you must provide information about your financial accounts held in Canada, including the account numbers, balances, and income earned. The form must be filed electronically with the Internal Revenue Service (IRS).
The purpose of Form 3389 is to help the IRS identify U.S. taxpayers who have financial accounts in Canada and ensure compliance with U.S. tax laws, specifically reporting requirements related to foreign financial assets.
Form 3389 requires reporting of various information, including the account numbers, names of financial institutions, account balances, and any income earned from the accounts. Additional information about foreign trusts and certain transactions may also be required.
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