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INSTITUTIONAL REVIEW BOARD for RESEARCHRESEARCH PROTOCOL REVIEW Former information or help completing this form, contact: THE OFFICE OF HUMAN SUBJECTS RESEARCH (OHS), email: humansubjects@Faulkner.edu
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FACU stands for Foreign Account Compliance Unit. It is an updated form designed to gather information about foreign financial accounts held by U.S. taxpayers.
Individuals who hold foreign financial accounts exceeding a certain threshold must file FACU, including U.S. citizens, residents, and certain entities.
To fill out FACU, individuals must provide personal information, details about foreign accounts, and report any income generated from these accounts.
The purpose of FACU is to ensure compliance with U.S. tax laws by reporting foreign financial assets and preventing tax evasion.
The FACU requires reporting the existence of foreign accounts, account balances, and any income generated from these accounts.
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