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Get the free FOREIGN ACCOUNT TAX COMPLIANCE ACT FATCA SELF-CERTIFICATION

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All Registry communications to: Link Market Services Limited Locked Bag A14 Sydney South NSW 1235 Australia Telephone: +61 1300 554 474 Facsimile: +61 2 9287 0303 Company or Trust in which investment
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How to fill out foreign account tax compliance

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How to fill out foreign account tax compliance:

01
Gather all necessary documentation such as bank statements, investment statements, and any other financial records related to your foreign accounts.
02
Familiarize yourself with the reporting requirements and forms needed for foreign account tax compliance, such as the Foreign Bank Account Report (FBAR) and Form 8938.
03
Accurately report the details of each foreign account, including the account number, name of the financial institution, and the maximum value of the account during the year.
04
Calculate and report any income earned from your foreign accounts, including interest, dividends, capital gains, and any other income sources.
05
Determine if you qualify for any exclusions or deductions related to your foreign accounts, such as the Foreign Earned Income Exclusion (FEIE) or the Foreign Tax Credit (FTC).
06
Fill out the necessary forms and file them with the appropriate government agencies, such as the Internal Revenue Service (IRS) in the United States.
07
Ensure that you submit the required forms by the specified deadline, typically April 15th for individual taxpayers in the US, or on the extended due date if applicable.

Who needs foreign account tax compliance:

01
US citizens or residents who have foreign financial accounts with an aggregate value exceeding certain thresholds.
02
Individuals who have control over or signatory authority over foreign accounts owned by US entities, such as corporations, partnerships, or trusts.
03
Non-US citizens who meet specific criteria, such as the substantial presence test, and are considered resident aliens for tax purposes in the US.
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