pooled reporting is permitted. A PFFI is not required to
Line 5. If the amounts reported in lines 3 and 4 (to the
complete line 3 for accounts held by recalcitrant account
extent applicable) are not reported in U.S. dollars, enter
holders (or for Reporting Model 2 FFIs, non-consenting
the code for the currency in which the amounts are
U.S. accounts).
reported. The currency code must be a valid
three-character ISO 4217 currency code. If the amounts
Line 1. Check the appropriate box for the applicable
are reported in U.S. dollars, enter “USD.”
pooled reporting type. See Accounts and Withholdable
Payments Required To Be Reported: Accounts for which
Paperwork Reduction Act Notice. We ask for the
pooled reporting is permitted for the categories of pooled
information on this form to carry out the Internal Revenue
reporting accounts.
laws of the United States. Chapter 4 of the Code requires
For calendar years 2015 and 2016, if a PFFI is
certain withholding agents and foreign financial
prohibited under domestic law from reporting a
institutions to report information with respect to certain
TIP
nonparticipating FFI on a specific payee basis
U.S. accounts, substantial U.S. owners of passive NFFEs,
without consent from the nonparticipating FFI account
U.S. accounts held by owner-documented FFIs, and
holder and the PFFI has not been able to obtain such
certain other accounts as applicable based on the filer’s
consent, the PFFI may report such accounts in a pool.
chapter 4 status. Form 8966 is used to comply with this
See Regulations section 1.1471-4(d)(2)(ii)(F).
reporting requirement.
You are not required to provide the information
For pooled reporting of non-consenting U.S.
requested on a form that is subject to the Paperwork
accounts, report the type substituting
TIP
Reduction Act unless the form displays a valid OMB
“non-consenting U.S. account” for “recalcitrant
control number. Books or records relating to a form or its
account.”
instructions must be retained as long as their contents
Line 2. Enter the total number of accounts reported in
may become material in the administration of any Internal
Part V.
Revenue law. Generally, tax returns and return
information are confidential, as required by section 6103.
Line 3. Only complete line 3 if you are reporting accounts
held by nonparticipating FFIs.
The time needed to complete and file this form will vary
depending on individual circumstances. The estimated
For calendar years 2015 and 2016, if you are
average time is 25 minutes.
reporting accounts held by nonparticipating FFIs,
TIP
enter the aggregate amount of foreign reportable
If you have comments concerning the accuracy of this
amounts paid to the accounts reported in Part V. See the
time estimate or suggestions for making this form simpler,
definition of foreign reportable amount, earlier. Instead of
we would be happy to hear from you. You can send us
reporting foreign reportable amounts, you may report all
comments from Click on “More
income, gross proceeds, and redemptions (irrespective of
Information” and then on “Give us feedback.” Or you can
source) paid to the accounts reported in Part V during the
write to Internal Revenue Service, Tax Forms and
calendar year.
Publications, SE:W:CAR:MP:TFP, 1111 Constitution Ave.
NW, IR-6526, Washington, DC 20224. Do not send the
Line 4. Enter the aggregate balance or value of the
form to this address. Instead, see When, How, and Where
accounts held by recalcitrant account holders (or, for
to File, earlier.
Reporting Model 2 FFIs, non-consenting U.S. accounts)
at the end of the year. Do not complete line 4 if you are
reporting accounts held by nonparticipating FFIs.
-13-
Instructions for Form 8966 (2015)