IRS Seeks Comment on New Forms Created for FATCA Reporting Obligations

The IRS has asked for public comment on new and existing tax forms for reporting by foreign financial institutions under the Foreign Account Tax Compliance Act.

According to a Feb. 13 Federal Register notice, the Internal Revenue Service seeks comment on:

• Form 8957, Foreign Account Tax Compliance Act (FATCA) Registration;
• Form 8966, FATCA Report;
• Form 8966-C, Cover Sheet for Form 8966 Paper Submissions;
• Form 8508-I, Request for Waiver From Filing Information Returns Electronically (Forms W-2, W-2G, 1042-S, 1097-BTC, 1098 Series, 1099 Series, 3921, 3922, 5498 Series, and 8027); and
• Form 8809-I, Application for Extension of Time to File Information Returns. ...