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1VijaykumarSINFATH0Datasheet STUDENT EXPLORE Date : 12 October 2018 Mr Vijaykumar Reddy 23 Bhaskar BCL Staff Quarters Anna Nagar West Behind Jessie Moses School Chennai 600040 Tamil Nadu Dear Mr Vijaykumar
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FATh stands for Foreign Account Tax Compliance Act. It is a U.S. federal law that requires foreign financial institutions to report information about accounts held by U.S. taxpayers or by foreign entities in which U.S. taxpayers hold a substantial ownership interest.
Foreign financial institutions are required to file FATCA reports.
FATCA reports can be filled out electronically through the IRS FATCA Online Registration System or by submitting Form 8966.
The purpose of FATCA is to combat tax evasion by U.S. taxpayers using foreign accounts.
Information such as account balances, gross receipts and withdrawals, and the account holder's name, address, and taxpayer identification number must be reported on FATCA.
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