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)