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TAX PRIMER
PARENTS
COMPLETING A 201819 PFS
Use this primer to get an understanding of which few tax forms will be most helpful to you as you complete
your PFS.
This primer doesn't provide an overview
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How to fill out your pfs
How to fill out your pfs
01
To fill out your PFS, follow these steps:
02
Gather all necessary documents, such as your income tax returns, bank statements, and investment statements.
03
Start by providing your personal information, including your name, address, and Social Security number.
04
Fill out the sections related to your household, including the number of people who live with you and their relationship to you.
05
Provide information about your income, including your salary, wages, and any other sources of income.
06
Fill out the sections related to your assets, such as your bank accounts, investments, and real estate properties.
07
Provide information about your liabilities, including any loans or debts you have.
08
Review and double-check all the information you have entered to ensure its accuracy.
09
Sign and date the PFS to certify that all the information provided is true and accurate.
10
Submit the completed PFS to the relevant organization or institution that requires it.
11
Keep a copy of the filled-out PFS for your records.
Who needs your pfs?
01
Various organizations and institutions may require your PFS, including:
02
- Colleges and universities for financial aid applications
03
- Potential lenders when applying for loans
04
- Some employers for verification of financial stability
05
- Government agencies for eligibility determination of social assistance programs
06
- Landlords for rental applications and credit checks
07
- Insurance companies for underwriting purposes
08
- Nonprofit organizations for grant or scholarship applications
09
- Immigration authorities for visa or residency applications
10
- Tax authorities for income tax assessment
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What is your pfs?
Personal Financial Statement (PFS) is a document that outlines an individual's financial position.
Who is required to file your pfs?
Generally, individuals who are seeking a loan or credit are required to file a Personal Financial Statement (PFS).
How to fill out your pfs?
You can fill out your PFS by providing accurate information about your assets, liabilities, income, and expenses.
What is the purpose of your pfs?
The purpose of a Personal Financial Statement (PFS) is to provide a snapshot of an individual's financial health and help lenders assess their creditworthiness.
What information must be reported on your pfs?
A Personal Financial Statement (PFS) typically includes information about assets, liabilities, income, and expenses.
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