FATCA - Draft Form 8966 for financial institutions, withholding agents to report account information 

August 15: The IRS has posted a draft version (as of August 13, 2013) of Form 8966 which financial institutions and withholding agents would file to report account holder information under the Foreign Account Tax Compliance Act (FATCA) reporting requirements.

The draft Form 8966 [PDF 76 KB] FATCA Report, is released for comments and is pending OMB approval.


Draft instructions for Form 8966 have not yet been released by the IRS.


The FATCA final regulations (January 2013) added requirements concerning the filing of Form 8966.


For example, participating foreign financial institutions (PFFIs) are required, under the final regulations, to file an income tax return on Form 1042, information returns on Forms 1042-S, and, if applicable, Form 8966.


Read a January 2013 analysis [PDF 1.56 MB] of the FATCA final regulations, prepared by KPMG LLP.




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