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EPLMSAPLE2024 FAR/AIMSAMFEDERAL AVIATION REGULATIONS / AERONAUTICAL INFORMATION MANUALRules and Procedures for Aviators U.S. Department of Transportation From Titles 14 and 49 of the Code of Federal
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How to fill out faraim
01
Read the Federal Aviation Regulations (FARs) for the specific information you need.
02
Understand the structure of FAR/AIM and locate the section related to your query.
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Go through the information and guidelines provided in the respective section.
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Refer to any updates or amendments in the Aeronautical Information Manual (AIM) if necessary.
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Ensure that you comply with all the regulations and guidelines as outlined in the FAR/AIM.
Who needs faraim?
01
Pilots and other aviation professionals who need to stay updated on the rules and regulations of the Federal Aviation Administration (FAA).
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Aviation students who are studying to obtain their pilot's license or pursuing a career in aviation.
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Air traffic controllers, aircraft dispatchers, and other personnel involved in aviation operations.
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What is faraim?
Faraim stands for Foreign Account Tax Compliance Act (FATCA) Report.
Who is required to file faraim?
Financial institutions and individuals with foreign financial accounts are required to file FARAIM.
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FARAIM can be filled out electronically through the IRS website or through specialized software.
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The purpose of FARAIM is to report foreign financial accounts to the IRS to prevent tax evasion.
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Information such as account balances, interest, dividends, and other income from foreign accounts must be reported on FARAIM.
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