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CHAPTER 1FA N T ORD
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TRI
by
TEF R O M S P O RT So's
t,
sports Reporter
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y, pure a lifelong football fan who can recite the names of every single Super Bowl
champion. You also know the
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What is fa n t o?
FA N T O stands for Foreign Account Tax Compliance Act (FATCA), which is a U.S. law that requires foreign financial institutions to report information about accounts held by U.S. taxpayers.
Who is required to file fa n t o?
Foreign financial institutions are required to file FATCA reports.
How to fill out fa n t o?
FATCA reports can be filled out electronically through the IRS FATCA registration system.
What is the purpose of fa n t o?
The purpose of FATCA is to prevent tax evasion by U.S. taxpayers using foreign accounts.
What information must be reported on fa n t o?
Information such as account balances, interest, dividends, and proceeds from sales must be reported on FATCA.
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