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M4IRF3a Saxon Publishers, Inc., and Nancy Larson 100 Subtraction Facts (S100) 100 Subtraction Facts (S100) 100 Subtraction Facts (S100) Score Lesson 65 100 Subtraction Facts (S100) Fact Assessment
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Fac t a n stands for Foreign Account Tax Compliance Act (FATCA), which is a US law aimed at preventing tax evasion by US persons holding assets overseas.
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Financial institutions, including banks, investment firms, and certain insurance companies, are required to file FATCA.
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FATCA reports can be filed electronically through the IRS FATCA Registration System.
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The purpose of FATCA is to increase transparency for the IRS regarding US persons' foreign financial assets and accounts.
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FATCA requires reporting on accounts held by US persons, as well as certain non-US entities with US owners or investors.
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