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Florida Association of Business Tax Officials, Inc. MEMBERSHIP APPLICATION / RENEWAL January 1, 2016, December 31, 2016, PLEASE FILL OUT AND RETURN TO: Dena Davis, FA BTO Treasurer P.O. Box 2282 Palm
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Fabto stands for Foreign Account Tax Compliance Act (FATCA) and is a United States federal law that requires foreign financial institutions to report information about accounts held by US persons to the IRS.
Foreign financial institutions are required to file fabto to report information about accounts held by US persons to the IRS.
Fabto can be filled out electronically through the IRS FATCA portal using the required forms and templates provided by the IRS.
The purpose of fabto is to prevent tax evasion by US persons holding accounts in foreign financial institutions.
Fabto requires foreign financial institutions to report information such as the account holder's name, address, US taxpayer identification number, account balance, and income generated from the account.
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