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A FAIR ISAAC WHITE PAPER FORTRACSTM software system overview BestofBreed Default Management Solution for the Mortgage Industry October 2004 FOR MORE INFORMATION phone from US 1 800 999 2955 worldwide
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What is fortracs?
Fortracs stands for Foreign Account Tax Compliance Act (FATCA) Reporting and Compliance System.
Who is required to file fortracs?
Financial institutions, such as banks and investment firms, are required to file fortracs.
How to fill out fortracs?
Fortracs can be filled out electronically through the IRS FATCA Online Registration System.
What is the purpose of fortracs?
The purpose of fortracs is to help combat tax evasion by US taxpayers holding assets and accounts offshore.
What information must be reported on fortracs?
Fortracs requires reporting on foreign financial accounts, investments, and income held by US taxpayers.
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