Instructions For Form 8966 (2015) (Page 3 of 13) in pdf

PFFI (including a Reporting Model 2 FFI) or RDC FFI that

How to file electronically. Those filing electronically

elects reporting under chapter 61 must still file Form 8966

should refer to Publication 5124, Foreign Account Tax

to report such accounts.

Compliance Act (FATCA) XML v1.1 User Guide (as

U.S. branch of a PFFI, Reporting Model 1 FFI,

updated for 2015), for instructions on how to populate the

Reporting Model 2 FFI, RDC FFI, or Territory

fields for the electronic Form 8966. These instructions can

Financial Institution treated as a U.S. person. A U.S.

generally be used to supplement Publication 5124.

branch of a PFFI, Reporting Model 1 FFI, Reporting Model

Information on how to submit the Form 8966 electronically

2 FFI, RDC FFI, or a Territory Financial Institution treated

to the IRS is provided in Publication 5190, International

as a U.S. person must file Form 8966 to report on its

Data Exchange Services User Guide, and Publication

accounts or payees in the same manner as a U.S.

5188, FATCA Metadata XML Schema v1.1 User Guide.

withholding agent (see earlier). See Regulations sections

If you are required to file electronically but fail to do so,

1.1471-1(b)(131), 1.1471-1(b)(135), 1.1471-4(d)(2)(ii)(B),

and you do not have an approved waiver on record,

and 1.1471- 4(d)(2)(iii)(B).

penalties under sections 6721 through 6724 may apply.

U.S. branch of a Reporting Model 1 FFI (including

Where to file paper Form 8966. If you have received a

any other RDC FFI) or Limited FFI that is not treated

waiver of the Form 8966 electronic filing requirement from

as a U.S person. A U.S. branch of a Reporting Model 1

the IRS or are not otherwise required to file Form 8966

FFI (including any other RDC FFI) or limited FFI that is not

electronically, you may send all paper Forms 8966, along

treated as a U.S. person reports on Form 8966 in the

with Form 8966-C, Cover Sheet for Form 8966 Paper

same manner as a withholding agent (see earlier). See

Submissions, to the following address:

Regulations section 1.1471-4(d)(2)(iii)(C).

When, How, and Where to File

Internal Revenue Service

FATCA, Stop 6052 AUSC

When to file. Form 8966 is required to be filed for the

3651 South IH 35

2015 calendar year on or before March 31, 2016. A

Austin, Texas 78741

Reporting Model 2 FFI must file Form 8966 on the same

filing dates that apply to a PFFI, unless a different

More information and updates to Form 8966. For

reporting date is specified in an applicable Model 2 IGA.

information about FATCA, including updates to Form

Extension of time to file. An automatic 90-day

8966 and its instructions, as well as answers to Frequently

extension of time to file Form 8966 may be requested. To

Asked Questions, go to

request an automatic 90-day extension of time to file

Definitions

Forms 8966, file Form 8809-I, Application for Extension of

Time to File FATCA Form 8966. See the instructions for

For detailed information about definitions that apply for

Form 8809-I for where to file that form. You should request

purposes of FATCA generally, see Regulations section

an extension as soon as you are aware that an extension

1.1471-1(b). A Reporting FI under a Model 1 IGA or Model

is necessary, but no later than the due date for filing

2 IGA should also refer to definitions that may apply under

Forms 8966. No extension of time to file is permitted for

that agreement or apply pursuant to any applicable

Forms 8966 filed by a Reporting Model 2 FFI to report a

domestic law pertaining to its FATCA obligations. Solely

non-consenting U.S. account or a non-consenting

for purposes of filing this Form 8966, the following

nonparticipating FFI. A Reporting Model 2 FFI should refer

definitions are provided to help guide filers through the

to the applicable Model 2 IGA for the due dates for those

process.

filings.

Account/Financial account. An account or financial

Under certain hardship conditions, the IRS may grant

account means a financial account described in

an additional 90-day extension to file Form 8966. See

Regulations section 1.1471-5(b).

Regulations section 1.1471-4(d)(3)(vii). To request an

Account holder. An account holder is the person who

additional 90-day extension of time to file Form 8966, file

holds a financial account, as determined under

a second Form 8809-I before the end of the initial

Regulations section 1.1471-5(a)(3).

extended due date. See the instructions to Form 8809-I

for more information on the requirements for requesting

Account maintained by a PFFI or Reporting Model 2

an additional extension for filing Form 8966.

FFI. An account maintained by a PFFI or Reporting

Model 2 FFI means an account that a PFFI or Reporting

Electronic filing requirement. An entity that is a

Model 2 FFI is treated as maintaining under Regulations

financial institution is required to file Form 8966

section 1.1471-5(b)(5).

electronically, irrespective of the number of Forms 8966

filed. All other entities that file 250 or more Forms 8966 for

Branch. A branch means a unit, business, or office of an

the calendar year are required to electronically file Form

FFI that is treated as a branch under the regulatory regime

8966. To request a waiver from the required filing of

of a country or that is otherwise regulated under the laws

Forms 8966 electronically, submit Form 8508-I, Request

of a country as separate from other offices, units, or

for Waiver From Filing Information Returns Electronically

branches of the FFI, and includes a disregarded entity of

(For Form 8966). Waiver requests should be filed at least

an FFI. A branch includes units, businesses, and offices of

45 days before the due date of the returns. See the

an FFI located in the country (or jurisdiction) in which the

instructions to Form 8508-I for where to file and additional

FFI is a resident as well as units, businesses, and offices

information.

of an FFI located in the country in which the FFI is created

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Instructions for Form 8966 (2015)

Instructions For Form 8966 (2015) Page 3

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