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Francis W is a form used for reporting foreign bank and financial accounts.
Any U.S. person, including individuals, corporations, partnerships, and trusts, who have a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds are required to file Form Francis W.
Form Francis W can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website or by mail. The form requires information about the account holder, the financial institution where the account is held, and details about the account.
The purpose of Form Francis W is to report foreign financial accounts and help prevent tax evasion by U.S. taxpayers.
Form Francis W requires the reporting of the account holder's information, details about the foreign financial institution, and the highest value of the account during the reporting period.
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