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This form is effective beginning with the January 1 to June 30, 2017, accounting period (2017/1)
If you are filing for a prior accounting period, contact the Licensing Division for the correct form.
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Who needs downs?
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Anyone who is seeking financial assistance and needs to provide detailed financial information.
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What is downs?
Downs is a reporting form used to disclose information about financial accounts held overseas.
Who is required to file downs?
US persons, including citizens, residents, and entities, with financial interest or signature authority over foreign financial accounts exceeding certain thresholds are required to file downs.
How to fill out downs?
To fill out downs, you need to provide information about the foreign financial accounts, including the account number, type of account, financial institution's name and address, and the maximum value of the account during the year.
What is the purpose of downs?
The purpose of downs is to prevent tax evasion by ensuring that US persons report their foreign financial accounts and comply with reporting requirements.
What information must be reported on downs?
The information reported on downs includes details of the foreign financial accounts, such as the account number, type of account, and maximum value of the account during the year.
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