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F an m i LY C an r eMember Guide11/2016Optima Family Care is underwritten by Optima Health Plan.4417 Corporation Lane Virginia Beach, VA 23462Dear Member: Welcome! It is important to read this book.
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F A M I stands for Foreign Account Tax Compliance Act.
Financial institutions and individuals with foreign financial accounts are required to file F A M I.
F A M I can be filled out electronically through the IRS portal or through the use of tax software.
The purpose of F A M I is to prevent tax evasion by U.S. taxpayers holding assets in foreign financial institutions.
Information such as account balances, interest, dividends, and capital gains must be reported on F A M I.
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