Form 8966

2014

Instructions for Form 8966

Department of the Treasury
Internal Revenue Service

FATCA Report
Section references are to the Internal Revenue Code
unless otherwise noted.

Future Developments

For the latest information about developments related to
Form 8966 or its instructions such as legislation enacted
after they were published, go to
www.irs.gov/form8966.

General Instructions
What's New
Summary of Chapter 4 and Related Matter. Under
chapter 4 of the Internal Revenue Code (Code) (sections
1471-1474 and Treasury Regulations (Regulations) under
those sections, commonly referred to as the Foreign
Account Tax Compliance Act or FATCA), a withholding
agent is generally required to deduct and withhold tax
equal to 30 percent of a withholdable payment made to a
foreign financial institution (FFI) unless the FFI has
entered into an FFI agreement with the IRS to be treated
as a participating FFI (PFFI). Pursuant to the FFI
agreement, a PFFI agrees to satisfy, among other things,
certain reporting obligations for each calendar year
concerning its U.S. accounts, accounts held by
owner-documented FFIs (ODFFI), and certain aggregate
information concerning accounts held by recalcitrant
account holders and, for a transitional period, accounts
held by nonparticipating FFIs. An FFI may also be
excepted from chapter 4 withholding if it is deemed to
comply with the provisions of section 1471(b). See
Regulations sections 1.1471-5(f)(1) and 1.1471-6.
Chapter 4 also requires a withholding agent to deduct and
withhold tax equal to 30 percent of a withholdable
payment made to a passive non-financial foreign entity
(NFFE) unless the passive NFFE certifies to the
withholding agent that it does not have any substantial
U.S. owners or provides certain identifying information
with respect to its substantial U.S. owners. A withholding
agent is also required to report information about
substantial U.S. owners of a passive NFFE and specified
U.S. persons holding certain equity and debt interests in a
payee that the withholding agent has agreed to treat as an
ODFFI. The withholding and other requirements of
chapter 4 begin on July 1, 2014.
To facilitate FATCA implementation for FFIs operating
in jurisdictions with laws that would prevent the FFIs from
complying with the terms of the FFI agreement, the
Treasury Department developed two alternative model
intergovernmental agreements (IGAs) (Model 1 IGA and
Model 2 IGA) that would allow FFIs operating in such
jurisdictions to perform due diligence and reporting on
their account holders to achieve the objectives of FATCA.
FFIs reporting under a Model 1 IGA (Reporting Model 1
Jun 20, 2014

FFIs) report certain information about their U.S. reportable
accounts and certain payees as required under the
applicable IGA to their respective tax authorities.
Reporting Model 1 FFIs do not file Form 8966 directly to
the IRS. FFIs reporting under a Model 2 IGA (Reporting
Model 2 FFIs) report directly to the IRS on Form 8966
certain information about their U.S. accounts, accounts
held by owner-documented FFIs (and TrusteeDocumented Trusts), and certain aggregate information
concerning account holders who do not waive legal
restrictions for the FFI to report this information
(non-consenting U.S. accounts), and, for a transitional
period, accounts held by nonparticipating FFIs as required
under the applicable IGA and the Regulations.

Purpose of Form

Form 8966 is required to be filed by filers listed under
“Who Must File,” later, to report information with respect to
certain U.S. accounts, substantial U.S. owners of passive
NFFEs, U.S. accounts held by owner-documented FFIs,
and certain other accounts as applicable based on the
filer’s chapter 4 status. For calendar years 2015 and 2016,
Form 8966 is also filed by PFFIs, Registered
deemed-compliant (RDC) FFIs, and Reporting Model 2
FFIs to report certain amounts paid to their account
holders that are nonparticipating FFIs. Unless otherwise
indicated, Reporting Model 2 FFIs should submit Form
8966 to report on its accounts consistent with instructions
for PFFIs.
Note. A separate Form 8966 must be filed for each
substantial U.S. owner of a passive NFFE and each
specified U.S. person owning certain equity or debt
interests in an owner-documented FFI, and for each group
of accounts for which pooled reporting is permitted as
described in Part V.

Who Must File

Except as otherwise provided in these instructions, you
are required to file Form 8966 if you are one of the
following persons:
PFFI. A PFFI must file Form 8966 to report information
with respect to a U.S. account, account of an entity that it
has agreed to treat as an owner-documented FFI,
accounts held by recalcitrant account holders (based on
the pools described in Part V),and accounts held by
nonparticipating FFIs.
U.S. Branch of a PFFI Not Treated as a U.S.
Person. A U.S. branch of a PFFI that is not treated as a
U.S. person is subject to the same Form 8966 reporting
requirements as a PFFI. See Regulations section
1.1471-4(d)(2)(iii)(C).
RDC FFI. An RDC FFI must file Form 8966 to report a
U.S. account for which it has reporting obligations as a
condition of its applicable RDC FFI status. See
Regulations section 1.1471-5(f)(1)(i).

Cat. No. 59612Q

An FFI other than a PFFI, Reporting Model 2 FFI,
or RDC FFI that is not required to file Form 8966
CAUTION
may still be required to report a payment under
chapter 61.

Limited Branch or Limited FFI. A limited branch or
limited FFI must file Form 8966 to report a U.S account to
the extent permitted under the relevant laws pertaining to
the branch or FFI. See Regulations sections 1.1471-4(e)
(2)(iv)(B) and (e)(3)(iii)(B).
Reporting Model 2 FFI. A Reporting Model 2 FFI must
file Form 8966 to report its U.S. accounts, accounts held
by FFIs that it has agreed to treat as owner-documented
FFIs (and Trustee-Documented Trusts), accounts held by
non-consenting account holders, and accounts held by
nonparticipating FFIs.
Qualified Intermediary (QI), Withholding Foreign
Partnership (WP), or Withholding Foreign Trust (WT).
A QI, WP, or WT must file Form 8966 to report on its
accounts, partners, and beneficiaries, as applicable and
as provided in its QI, WP, or WT agreement.
Direct Reporting NFFE. A Direct Reporting NFFE
must file Form 8966 to report its substantial U.S. owners.
See Regulations section 1.1472-1(c)(3).
Sponsoring Entity. A Sponsoring Entity must file Form
8966 to report an account of an FFI that it has agreed to
treat as a Sponsored FFI or a Sponsored Direct Reporting
NFFE. See Regulations section 1.1471-4(d)(2)(ii)(C)
regarding the reporting required of a Sponsoring Entity
acting on behalf of a Sponsored FFI. See Regulations
section 1.1472-1(c)(5) regarding the reporting required of
a Sponsoring Entity acting on behalf of a Sponsored
Direct Reporting NFFE.

TIP

!

Form 8966 is not used to report any tax withheld
TIP under chapter 4 to the IRS. A withholding agent
may, in addition to Form 8966, also have to file
Form 1042, Annual Withholding Tax Return for U.S.
Source Income of Foreign Persons, and Form 1042-S,
Foreign Person’s U.S. Source Income Subject to
Withholding, to report any tax withheld under chapter 4.
For further information, see Forms 1042, 1042-S, and their
accompanying instructions.
PFFI electing chapter 61 reporting. A PFFI that
elects to perform chapter 61 reporting to satisfy its
chapter 4 reporting requirements for certain accounts is
not required to report on Form 8966 with respect to such
an account that is held by a specified U.S. person.
Instead, the PFFI shall report such account on Form 1099.
See Regulations section 1.1471-4(d)(5). With respect to
an account held by a passive NFFE with a substantial
U.S. owner or an account held by an FFI that the PFFI or
Reporting Model 2 FFI has agreed to treat as an
owner-documented FFI, the PFFI or Reporting Model 2
FFI that elects reporting under chapter 61 must still file
Form 8966 to report such accounts.
U.S. branch of a PFFI, Reporting Model 1 FFI,
Reporting Model 2 FFI, RDC FFI, or Territory
Financial Institution treated as a U.S. person. A U.S.
branch of a PFFI, Reporting Model 1 FFI, Reporting Model
2 FFI, RDC FFI, or a Territory Financial Institution treated
as a U.S. person must file Form 8966 to report on its
accounts or payees in the same manner as a withholding
agent (see earlier). See Regulations sections 1.1471-1(b)
(131), 1.1471-1(b)(135), 1.1471-4(d)(2)(ii)(B), and
1.1471- 4(d)(2)(iii)(B).
U.S. branch of a Reporting Model 1 FFI (including
any other RDC FFI) or Limited FFI that is not treated
as a U.S person. A U.S. branch of a Reporting Model 1
FFI (including any other RDC FFI) or limited FFI that is not
treated as a U.S. person reports on Form 8966 in the
same manner as a withholding agent (see earlier). See
Regulations section 1.1471-4(d)(2)(iii)(C).

Sponsored FFIs and Sponsored Direct Reporting
NFFEs do not need to file Form 8966 if a
Sponsoring Entity is reporting on its behalf.

Trustee-Documented Trust. A trustee of a
Trustee-Documented Trust reports on Form 8966 each
U.S. account maintained by the trust as if the trustee
maintained the account.

Special Rules for Certain Form 8966 Filers

U.S. withholding agents. A U.S. withholding agent
that is not an FFI and that makes a withholdable payment
to a passive NFFE with a substantial U.S. owner or an
ODFFI with a specified U.S. person owning certain equity
or debt interests in the ODFFI must report such
substantial U.S. owners or specified U.S. persons on
Form 8966.
A U.S. payor (other than a U.S. branch) that is a PFFI
or Reporting Model 2 FFI is not required to file Form 8966
to report an account if it reports payments to the account
holder on Form 1099 to the extent specified in
Regulations section 1.1471-4(d)(2)(iii)(A). With respect to
an account held by a passive NFFE with a substantial
U.S. owner or an account held by an FFI that the PFFI or
Reporting Model 2 FFI has agreed to treat as an ODFFI,
the PFFI or Reporting Model 2 FFI that elects reporting on
Form 1099 must still file Form 8966 to report such
accounts.

When, How, and Where to File
When to file. Form 8966 is required to be filed for the
2014 calendar year on or before March 31, 2015. A
Reporting Model 2 FFI must file Form 8966 on the same
filing dates that apply to a PFFI, unless a different
reporting date is specified in an applicable Model 2 IGA.
Extension of time to file. An automatic 90-day
extension of time to file Form 8966 may be requested. For
reporting with respect to calendar year 2014 only, an
automatic 90-day extension of time to file Form 8966 will
be provided to all filers (including those filing
electronically), without the need to file any form or take
any action. After calendar year 2014, to extend the Form
8966 filing deadline, an application for extension of time to
file will be required. The form name and number of this
application will be provided by the IRS at a later date. No
extension of time to file is permitted for Forms 8966 filed

A withholding agent that is a U.S. payor reporting
payments to U.S. individuals must report these
CAUTION
payments on the appropriate Form 1099 to the
extent required under chapter 61. Do not file Form 8966 to
report these payments.

!

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Instructions for Form 8966 (2014)

by a Reporting Model 2 FFI to report a non-consenting
U.S. account or a non-consenting nonparticipating FFI. A
Reporting Model 2 FFI should refer to the applicable
Model 2 IGA for the due dates for those filings.
Under certain hardship conditions, the IRS may grant
an additional 90-day extension to file Form 8966. See
Regulations section 1.1471-4(d)(3)(vii). The IRS intends
to provide additional future guidance regarding the
procedures for extensions based on hardship, including
where to send such requests.

Account holder. An account holder is the person who
holds a financial account, as determined under
Regulations section 1.1471-5(a)(3).
Account maintained by a PFFI or Reporting Model 2
FFI. Account maintained by a PFFI or Reporting Model 2
FFI means an account that a PFFI or Reporting Model 2
FFI is treated as maintaining under Regulations section
1.1471-5(b)(5).
Branch. A branch means a unit, business, or office of an
FFI that is treated as a branch under the regulatory regime
of a country or that is otherwise regulated under the laws
of a country as separate from other offices, units, or
branches of the FFI, and includes a disregarded entity of
an FFI. A branch includes units, businesses, and offices of
an FFI located in the country (or jurisdiction) in which the
FFI is a resident as well as units, businesses, and offices
of an FFI located in the country in which the FFI is created
or organized. All units, businesses, or offices of a PFFI
located in a single country (or jurisdiction), including all
disregarded entities located in such single country (or
jurisdiction), must be treated as a single branch.

Electronic filing requirement.
An entity that is a financial institution is required to file
Form 8966 electronically, irrespective of the number of
Forms 8966 filed. All other entities that file 250 or more
Forms 8966 for the calendar year are required to
electronically file Form 8966. Information on how to
request a waiver from the electronic filing requirement will
be provided in future guidance.
A PFFI (including a Reporting Model 2 FFI) and a RDC
FFI are required to file Form 8966 electronically with the
IRS.
How to file electronically. Those filing electronically
should refer to Publication 5124, “Foreign Account Tax
Compliance Act (FATCA) XML v1.1 User Guide,” for
instructions on how to populate the fields for the electronic
Form 8966. Information on how to submit the Form 8966
electronically to the IRS will be provided in future
guidance.
If you are required to file electronically but fail to do so,
and you do not have an approved waiver on record,
penalties under sections 6721 through 6724 may apply.

Branch that maintains an account. A branch,
including a disregarded entity, maintains an account if the
rights and obligations of the account holder and the FFI
with regard to such account (including any assets held in
the account) are governed by the laws of the country of
the branch or disregarded entity.
Direct reporting NFFE. A Direct Reporting NFFE is an
NFFE that has elected to report its substantial U.S.
owners to the IRS pursuant to Regulations section
1.1472-1(c)(3).

Where to file paper Form 8966. If you have received a
waiver of the Form 8966 electronic filing requirement from
the IRS or are not otherwise required to file Form 8966
electronically, you may send paper Form 8966 to the
following address:

Deemed-compliant FFI. A deemed-compliant FFI
means an FFI that is treated, pursuant to section 1471(b)
(2) and Regulations section 1.1471-5(f), as meeting the
requirements of section 1471(b).
Excepted NFFEs. Excepted NFFEs include NFFEs that
are QIs, WPs, and WTs, certain publicly traded
corporations (including certain affiliates), certain territory
entities, active NFFEs, excepted nonfinancial entities,
Direct Reporting NFFEs, and Sponsored Direct Reporting
NFFEs as described in Regulations section 1.1472-1(c)
(1).

Internal Revenue Service
FATCA, Stop 6052 AUSC
3651 South IH 35
Austin, Texas 78741
More information and updates to Form 8966. For
information about FATCA, including updates to Form
8966 and its instructions, go to www.irs.gov/fatca.

Exempt beneficial owner. An exempt beneficial owner
is any person described in Regulations section
1.1471-6(b) through (g) and includes any person treated
as an exempt beneficial owner under an applicable Model
1 IGA or Model 2 IGA.

Definitions

For detailed information about definitions that apply for
purposes of FATCA generally, see Regulations section
1.1471-1(b). A Reporting FI under a Model 1 IGA or Model
2 IGA should also refer to definitions that may apply under
that agreement or apply pursuant to any applicable
domestic law pertaining to its FATCA obligations. Solely
for purposes of filing this Form 8966, the following
definitions are provided to help guide filers through the
process.

Financial institution (FI). A financial institution is any
institution that is a depository institution, custodial
institution, investment entity, insurance company (or
holding company of an insurance company) that issues
cash value insurance or annuity contracts, or a holding
company or treasury center that is part of an expanded
affiliated group of certain FFIs, and includes a financial
institution as defined under an applicable Model 1 IGA or
Model 2 IGA. See Regulations section 1.1471-5(e)(1).

Account/Financial account. An account or financial
account means a financial account described in
Regulations section 1.1471-5(b).

Instructions for Form 8966 (2014)

Foreign financial institution (FFI). Except as otherwise
provided for certain foreign branches of a U.S. financial
institution or Territory Financial Institution, a foreign
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financial institution means a financial institution that is a
foreign entity. The term foreign financial institution also
includes a foreign branch of a U.S. financial institution with
a QI Agreement in effect.

Non-financial foreign entity (NFFE). A non-financial
foreign entity (NFFE) is a foreign entity that is not a
financial institution. An NFFE includes a territory NFFE as
defined in Regulations section 1.1471-1(b)(132) and a
foreign entity treated as an NFFE pursuant to a Model 1
IGA or Model 2 IGA.

Foreign reportable amount. The term “foreign
reportable amount” means the aggregate amount of
foreign source payments described in Regulations section
1.1471-4(d)(4)(iv).

Nonparticipating FFI. A nonparticipating FFI is an FFI
other than a PFFI, a deemed-compliant FFI, or an exempt
beneficial owner.

Global intermediary identification number (GIIN). A
global intermediary identification number or GIIN means a
number assigned to a PFFI, Reporting Model 1 FFI,
Reporting Model 2 FFI, RDC FFI, and certain other
registering entities (e.g., a Direct Reporting NFFE). A
separate GIIN will be issued to the FFI to identify, among
other things, each jurisdiction where the FFI maintains a
branch not treated as a limited branch. A Direct Reporting
NFFE will be issued only one GIIN, irrespective of where it
maintains branches.

Nonreporting FI. A nonreporting FI means an entity that
is resident in or established in a jurisdiction that has in
effect a Model 1 IGA or Model 2 IGA and that is treated as
a nonreporting FI in Annex II of the applicable Model 1
IGA or Model 2 IGA or that is otherwise treated as a
deemed-compliant FFI or an exempt beneficial owner
under Regulations sections 1.1471-5 or 1.1471-6.
Owner-documented FFI (ODFFI). An
owner-documented FFI is an FFI described in Regulations
section 1.1471-5(f)(3).

Limited branch. In the case of a PFFI, a limited branch
means a branch described in Regulations section
1.1471-4(e)(2)(iii). With respect to a Reporting Model 2
FFI, a limited branch is a branch of the Reporting Model 2
FFI that operates in a jurisdiction that prevents such
branch from fulfilling the requirements of a PFFI or
deemed-compliant FFI and that is treated as a
nonparticipating FFI pursuant to section 1471(e)(1)(B).

Participating FFI (PFFI). A PFFI is an FFI, or branch of
an FFI, that has in effect an FFI agreement with the IRS,
and includes a Reporting Model 2 FFI.
Passive NFFE. A passive NFFE is an NFFE that is not an
excepted NFFE. With respect to a Reporting Model 2 FFI
filing this Form 8966 to report its accounts and payees, a
passive NFFE is an NFFE that is not an active NFFE (as
defined in the applicable Model 2 IGA).

Limited FFI. A limited FFI means an FFI described in
Regulations section 1.1471-4(e)(3)(ii). With respect to a
Reporting Model 2 FFI, a limited FFI is a related entity that
operates in a jurisdiction that prevents the entity from
fulfilling the requirements of a PFFI or deemed-compliant
FFI and that is treated as a nonparticipating FFI pursuant
to section 1471(e)(1)(B).

Pooled reporting. For purposes of this form, an FFI is
permitted to report recalcitrant accounts holders,
non-consenting U.S. accounts, and certain
nonparticipating FFIs on an aggregate basis in a reporting
pool rather than report specific account holder
information. With respect to recalcitrant account holders
and non-consenting U.S accounts, a reporting pool
consists of account holders that fall within a particular type
described in Regulations section 1.1471-4(d)(6).

Model 1 IGA. A Model 1 IGA means an agreement
between the United States or the Treasury Department
and a foreign government or one or more foreign agencies
to implement FATCA through reporting by financial
institutions to such foreign government or agency thereof,
followed by automatic exchange of the reported
information with the IRS. For a list of jurisdictions treated
as having an IGA in effect, see www.irs.gov/Businesses/
Corporations/Information-for-Foreign-FinancialInstitutions.

Qualified Intermediary (QI), Withholding Foreign
Partnership (WP), Withholding Foreign Trust (WT). A
QI is a foreign entity (or foreign branch of a U.S. financial
institution) that has entered into a QI agreement with the
IRS. A WP is a foreign partnership that has entered into a
withholding foreign partnership agreement with the IRS. A
WT is a foreign trust that has entered into a withholding
foreign trust agreement with the IRS.

Model 2 IGA. A Model 2 IGA means an agreement or
arrangement between the United States or the Treasury
Department and a foreign government or one or more
foreign agencies to implement FATCA through reporting
by financial institutions directly to the IRS in accordance
with the requirements of the FFI agreement, as modified
by an applicable Model 2 IGA, supplemented by the
exchange of information between such foreign
government or agency thereof and the IRS. For a list of
jurisdictions treated as having an IGA in effect, see
www.irs.gov/Businesses/Corporations/Information-forForeign-Financial-Institutions.

Recalcitrant account holder. A recalcitrant account
holder is an account holder (other than an account holder
that is an FFI) of a PFFI or registered deemed-compliant
FFI that has failed to provide the FFI maintaining its
account with the information required under Regulations
section 1.1471-5(g).
Registered deemed-compliant FFI (RDC FFI). A
registered deemed-compliant FFI is an FFI described in
Regulations section 1.1471-5(f)(1), and includes a
Reporting Model 1 FFI, a QI branch of a U.S. financial
institution that is a Reporting Model 1 FFI, and a
nonreporting FI treated as a registered deemed-compliant
FFI under a Model 2 IGA.

Non-consenting U.S. account. For purposes of a
Reporting Model 2 FFI, a non-consenting U.S. account
shall have the meaning that it has under an applicable
Model 2 IGA. For purposes of this form, a non-consenting
U.S. account is treated like a recalcitrant account holder.

Reporting Model 1 FFI. A Reporting Model 1 FFI is an
FI, including a foreign branch of a U.S. financial institution,
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Instructions for Form 8966 (2014)

treated as a reporting financial institution under a Model 1
IGA.

Withholding agent. With respect to a withholdable
payment, a withholding agent is a person described in
Regulations section 1.1473-1(d).

Reporting Model 2 FFI. A Reporting Model 2 FFI is an FI
or branch of an FI treated as a reporting financial
institution under a Model 2 IGA.

Withholdable payment. A withholdable payment is a
payment described in Regulations section 1.1473-1(a).

Specified U.S. person. A specified U.S. person is any
U.S. person described in Regulations section 1.1473-1(c).

Accounts and Withholdable
Payments Required To Be Reported

Sponsored direct reporting NFFE. A Sponsored Direct
Reporting NFFE is a Direct Reporting NFFE that has a
Sponsoring Entity perform due diligence and reporting
requirements on behalf of the Sponsored Direct Reporting
NFFE as described in Regulations section 1.1472-1(c)(5).

Accounts to be reported. A PFFI, Reporting Model 2
FFI, or RDC FFI must file a separate Form 8966 annually
for each account required to be reported, or for each
group of accounts for which pooled reporting is permitted,
in accordance with the FFI agreement and Regulations
section 1.1471-4(d). Such an FFI must report with respect
to accounts required to be reported that are maintained at
any time during each calendar year. This includes
accounts that are identified as (or presumed) U.S.
accounts or accounts that are treated as held by a
recalcitrant account holder or nonparticipating FFI by the
end of such calendar year following a change in
circumstances during such year or due to the expiration
during such year of the time period provided in the
applicable due diligence procedures for documenting the
account holder. See Regulations section 1.1471-4(d)(2)(i)
and (ii). Form 8966 reporting is required for the following
accounts.
U.S. Account maintained by a PFFI, Reporting Model 2
FFI, or RDC FFI, that is held by a specified U.S. person,
and for each substantial U.S. owner (or, in the case of a
Reporting Model 2 FFI, each controlling person that is a
specified U.S. person) of a passive NFFE for which the
FFI maintains an account. File a separate Form 8966 for
each substantial U.S. owner (or controlling person) of a
passive NFFE (as determined under the Regulations or an
applicable Model 2 IGA) that is a specified U.S. person.

Sponsored FFI. A Sponsored FFI is an investment entity
or an FFI that is a controlled foreign corporation having a
Sponsoring Entity that performs certain due diligence,
withholding, and reporting obligations on behalf of the
Sponsored FFI.
Sponsoring Entity. A Sponsoring Entity is an entity that
has registered with the IRS to perform the due diligence,
withholding, and reporting obligations of one or more
Sponsored FFIs or Sponsored Direct Reporting NFFEs.
Substantial U.S. owner. A substantial U.S. owner is a
specified U.S. person described in Regulations section
1.1473-1(b). For purposes of filing this form, a Reporting
Model 2 FFI reporting an account held by a passive NFFE
should substitute the term “controlling person that is a
specified U.S. person” for “substantial U.S. owner” and
refer to the applicable Model 2 IGA for the definition of
controlling U.S. person. A territory NFFE that is not an
excepted NFFE determines its substantial U.S. owners by
applying the 10 percent threshold in Regulations section
1.1473-1(b)(1).
Territory Financial Institution. A Territory Financial
Institution is a financial institution that is incorporated or
organized under the laws of any U.S. territory, excluding a
territory entity that is a financial institution only because it
is an investment entity.

Note. See Regulations section 1.1471-5(b) for details on
the types of accounts potentially subject to reporting,
including depository accounts, custodial accounts, certain
equity or debt interests in an investment entity or in certain
other financial institutions or group members, and certain
cash value insurance or annuity contracts. Exceptions are
provided, including for individual deposit accounts with a
balance or value less than $50,000 (unless an election is
made to forego the exception) and for certain retirement
and other accounts. See Regulations sections
1.1471-5(a)(4) and 1.1471-5(b)(2). Also, see Regulations
section 1.1471-5(a)(3) concerning who is considered the
account holder where the listed holders are certain trusts
or agents, or in the case of jointly held accounts.
Account held by an ODFFI as defined in Regulations
section 1.1471-5(f)(3). File a separate Form 8966 to
report for each specified U.S. person that owns certain
equity or debt interests in the ODFFI in accordance with
Regulations sections 1.1471-3(d)(6)(iv)(A)(1) and (2), and
1.1471-4(d)(2)(iii)(D).
Account maintained by a Trustee-Documented Trust
that is a Nonreporting Model 2 FFI as defined in the
applicable Model 2 IGA. The trustee files a Form 8966 to
report each U.S. account (within the meaning of the Model
2 IGA) maintained by the Trustee-Documented Trust as if
the trustee were the FFI that maintained the account.

Territory Financial Institution treated as a U.S. person. A Territory Financial Institution may be treated as a
U.S. person under Regulations sections 1.1471-1(131)
and 1.1471-3(a)(3)(iv).
Trustee-Documented Trust. A Trustee-Documented
Trust is a trust described as such in a Model 1 IGA or
Model 2 IGA.
U.S. account. A U.S. account is any account held by one
or more specified U.S. persons. A U.S. account also
includes any account held by a passive NFFE that has
one or more substantial U.S. owners, or in the case of a
Reporting Model 2 FFI, any account held by a passive
NFFE that has one or more controlling persons that are
specified U.S. persons. See Regulations section
1.1471-5(a) and an applicable Model 2 IGA.
U.S. branch treated as a U.S. person. A U.S. branch
treated as a U.S. person is a U.S. branch of a PFFI,
Reporting Model 1 FFI, Reporting Model 2 FFI, or RDC
FFI that is treated as a U.S. person under Regulations
section 1.1441-1(b)(2)(iv)(A).

Instructions for Form 8966 (2014)

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Account held by a Territory Financial Institution not
treated as a U.S. person. File a separate Form 8966 with
respect to each substantial U.S. owner of a passive NFFE
for which the Territory Financial Institution acts as an
intermediary and provides the PFFI or Reporting Model 2
FFI with the information and documentation required
under Regulations section 1.1471-3(c)(3)(iii)(G). See
Regulations section 1.1471-4(d)(2)(ii)(B)(2).
Account held by a nonparticipating FFI. For calendar
years 2015 and 2016, file a separate Form 8966 for each
account maintained for a nonparticipating FFI (including a
limited branch or limited FFI treated as a nonparticipating
FFI) to report certain aggregate amounts. See later in
these instructions for permitted pooled reporting for
non-consenting nonparticipating FFIs, if specific payee
reporting is prohibited under domestic law without
account holder consent.
Accounts for which Pooled Reporting is Permitted.
Accounts held by the following persons may be reported
on a Form 8966 by Pooled Reporting Type: recalcitrant
account holders with U.S. indicia, recalcitrant account
holders without U.S. indicia, recalcitrant account holders
that are U.S. persons, recalcitrant account holders that
are passive NFFEs, and recalcitrant account holders of
dormant accounts. See Regulations section 1.1471-4(d)
(6). A Reporting Model 2 FFI, under the terms of the
Model 2 IGA, is required to report certain aggregate
information regarding accounts it is required to treat as
non-consenting U.S. accounts on Form 8966 in the
manner described in Regulations section 1.1471-4(d)(6)
(i.e., by Pooled Reporting Types). For calendar years
2015 and 2016, if specific payee reporting is prohibited
under domestic law without account holder consent, a
PFFI may report a pool of non-consenting nonparticipating
FFIs on a single Form 8966. (See Specific Instructions,
Part V, Pooled Reporting Type).

respect to each specified U.S. person that owns certain
equity or debt interests in the ODFFI in accordance with
Regulations section 1.1471-3(d)(6)(iv)(A)(1) and (2),
identification of the specified U.S. person (name, address,
and TIN), account number, account balance or value,
certain enumerated payments with respect to the account
(described in Part IV), and such other information as may
be required on Form 8966 or by these instructions. A
separate Form 8966 must be filed for each such specified
U.S. person. See Regulations sections 1.1471-3(d)(6)(iv)
(A)(1) and (2), and 1.1471-4(d)(3)(iv)(B).
Account held by nonparticipating FFI. For calendar
years 2015 and 2016, with respect to a nonparticipating
FFI receiving a payment of a foreign reportable amount,
identification of the nonparticipating FFI (name, address,
and TIN), account number and total payments of foreign
reportable amounts made to the NPFFI (either divided by
type of payment or as one amount as set forth in Part IV,
Lines 4a through 4d). As an alternative to reporting foreign
reportable amounts, the FFI may instead report all
income, gross proceeds, and redemptions (regardless of
source) paid to the nonparticipating FFI during the
calendar year. If the FFI reports accounts held by
nonparticipating FFIs in reporting pools, see Accounts for
which Pooled Reporting is Permitted, report the total of all
foreign reportable amounts or all income, gross proceeds,
and redemptions (regardless of source) paid to accounts
held by nonparticipating FFIs, and the aggregate number
of accounts included in the pooled report. See Part V.
Accounts held by recalcitrant account holders.
Report the number of accounts included in the reporting
pool and the aggregate account balance or value for such
accounts.

Account Information to be Reported. The following
information is reported on Form 8966. For the 2014 and
2015 calendar years, see Transitional Account
Information Reporting Rules for 2014 and 2015, later, to
determine the information you are required to report for
those calendar years. See Specific Instructions, later, to
determine the information you are required to report
based on your filing status.
Account held by specified U.S. persons.
Identification of the account holder (name, address, and
U.S. TIN), account number, account balance or value,
certain enumerated payments with respect to the account
(described in Part IV), and such other information as may
be required on Form 8966 or by these instructions. See
Regulations section 1.1471- 4(d)(3)(ii).
Account held by passive NFFE. With respect to a
passive NFFE, on a separate Form 8966 for each
substantial U.S. owner, identification of the NFFE (name,
address, and TIN, if any) and substantial U.S. owner
(name, address, and U.S. TIN), account number, account
balance or value, certain enumerated payments with
respect to the account (described in Part IV), and such
other information as may be required on Form 8966 or by
these instructions. See Regulations section 1.1471-4(d)
(3)(iii).
Account held by ODFFI. With respect to an account
held by an ODFFI, identification of the ODFFI and, with

2014 calendar year. Report all the foregoing
information, except for the enumerated payments made
with respect to the account as described in Part IV, Line 4.
The PFFI must report any account identified and
documented as a U.S. account or an account held by an
ODFFI or nonparticipating FFI as of December 31, 2014 if
such account was outstanding on July 1, 2014. See
Regulations section 1.1471-4(d)(7)(ii)(A) and (B). For
purposes of determining the account balance or value, the
account balance or value should be determined based on
the entire 2014 calendar year.

Transitional Account Information Reporting
Rules for 2014 and 2015

2015 calendar year. Report all the foregoing
information, including any enumerated payments made
with respect to the account as described in Part IV, Lines
4a, 4b, and 4d, except certain gross proceeds described
in Part IV, Line 4c. The PFFI must report any account
identified and documented as a U.S. account or an
account held by the ODFFI or nonparticipating FFI as of
December 31, 2015 (or as of the date the account is
closed if closed prior to December 31, 2015) if such
account was outstanding at any time during calendar year
2015. See Regulations section 1.1471-4(d)(7)(ii)(B).

Withholding Agent Reporting

A withholding agent (other than an FFI reporting accounts
maintained by such FFI under the account reporting rules
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Instructions for Form 8966 (2014)

Transitional Reporting for Amounts Paid During
2014

described earlier in Accounts and Withholdable Payments
Required To Be Reported), files Form 8966 to report the
following in connection with a withholdable payment.
Amounts paid to an ODFFI. With respect to each
ODFFI payee, on a separate Form 8966 for each
specified U.S. person that owns certain equity or debt
interests in the ODFFI in accordance with Regulations
section 1.1471-3(d)(6)(iv)(A)(1) and (2), identification of
the ODFFI and specified U.S. person (name, address,
and TIN), total of all withholdable payments made to the
ODFFI, account balance or value, and such other
information as may be required on Form 8966 or by these
instructions. See Regulations section 1.1474-1(i)(2).
Amounts paid to a passive NFFE. With respect to a
passive NFFE payee, on a separate Form 8966 for each
specified U.S. person that is a substantial U.S. owner (or,
in the case of a Reporting Model 2 FFI, controlling
person), identification of the NFFE and each substantial
U.S. owner (name, address, and TIN), total of all
withholdable payments made to the NFFE, and such other
information as may be required on Form 8966 or by these
instructions. See Regulations section 1.1474-1(i)(1).

A withholding agent described in this subsection of the
instructions is only required to report for calendar year
2014 if it makes a withholdable payment on or after July 1,
2014 to a passive NFFE with a substantial U.S. owner or
ODFFI with one or more specified U.S. persons owning
certain equity or debt interests in the ODFFI. In such a
case, the withholding agent is required to report for
withholdable payments made on or after July 1 through
December 31, 2014.

Specific Instructions
Before You Begin

There are five parts to Form 8966. A filer completes only
the relevant parts of the form applicable for that filer, as
set forth in the following chart.

Form 8966 Completion
FILER

SEPARATE FORM 8966 FOR EACH

COMPLETE PARTS

PFFI

U.S. account held by a specified U.S. person

I, II, and IV

Substantial U.S. owner of a passive NFFE (passive NFFE is holder of the
U.S. account)

I, II, III, and IV

Specified U.S. person owning certain equity or debt interests in an ODFFI
for which you act as a designated withholding agent

I, II, III, and IV

Account held by nonparticipating FFI (unless pooled reporting is
applicable)

I, II, IV

Pooled Reporting for recalcitrant account holders (or non-consenting U.S.
accounts) or nonparticipating FFIs

I and V

Specified U.S. person owning certain equity or debt interests in an ODFFI
to which the withholding agent makes a withholdable payment

I, II, III, and IV

Substantial U.S. owner of a passive NFFE to which the withholding agent
makes a withholdable payment

I, II, III, and IV

Substantial U.S. owner of a direct reporting NFFE

I, II, III, and IV

WITHHOLDING AGENT

DIRECT REPORTING NFFE

Special instructions for filers not specifically listed in
chart. For purposes of applying the specific instructions
(including this chart), a withholding agent includes a U.S.
branch or Territory Financial Institution treated as a U.S.
person. A Reporting Model 2 FFI files consistent with the
requirements of a PFFI unless otherwise indicated. A
Sponsoring Entity of a Sponsored FFI files under the
requirements of a PFFI. A RDC FFI files under the
requirements of a PFFI with respect to an account it is
required to report as a condition of its deemed-compliant
status. A trustee of a Trustee-Documented Trust files
under the requirements of a PFFI. A Sponsoring Entity of
a Sponsored Direct Reporting NFFE files under the
requirements of a Direct Reporting NFFE. A limited
branch or limited FFI, to the extent it is permitted to report,
files under the requirements of a PFFI unless otherwise
indicated. Entities filing consistent with a PFFI should
substitute their chapter 4 status for PFFI where that term
is used in the instructions, except as otherwise noted.
Instructions for Form 8966 (2014)

Amount and character of payments. The amount and
character of payments made with respect to an account
may be determined under the same principles that the filer
uses to report information on resident account holders to
its domestic tax authority. Thus, the amount and character
of items of income required to be reported need not be
determined in accordance with U.S. federal tax principles.
If any type of payment is not reported to domestic tax
authorities, such amounts may be determined in the same
manner as used for reporting to the account holder.
Otherwise, reporting must either be in accordance with
U.S. federal tax principles, or with any reasonable method
consistent with the accounting principles applied by the
PFFI. IRS consent is required to change such method,
except that a change to rely on U.S. federal income tax
principles is automatically permitted. See Regulations
section 1.1471-4(d)(4)(iv)(E).
Currency translation. Account balance or value, and
any reportable payment, may be reported in U.S. dollars
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If the Form 8966 that you are amending was filed
electronically with the IRS, then the amended
CAUTION
Form 8966 and accompanying voided Form 8966
must be filed electronically with the IRS. If the Form 8966
that you are amending was filed in paper format with the
IRS, then the amended Form 8966 and accompanying
voided Form 8966 must be filed in paper format with the
IRS. Failure to follow this rule will result in your amended
Form 8966 not being processed by the IRS.

or in the currency in which the account or payment is
denominated. In the case of an account, or payments
denominated in multiple currencies, the filer may elect to
report the account balance or value, or payments, in a
currency in which the account or payments are
denominated and is required to identify the currency,
including the applicable currency code, in which the
account is reported. See Regulations section 1.1471-4(d)
(4)(iv)(B) and (F). If an account balance or payment is
reported in U.S. dollars, the filer must calculate the
amount in the manner described in Regulations section
1.1471-5(b)(4).

!

Voided report. A copy of the Form 8966 as originally
filed with the IRS, updated by checking the “Voided
report” box, must be filed along with the “Amended report”
filing that shows the corrected version of the Form 8966.

Rounding off to whole currency amounts. You may
round fractional currency amounts up (or down) to the
closest non-fractional (whole) currency amount. If the
fractional currency amount is equal to or greater than half
the value of the basic currency unit, round up to the next
whole currency amount. If the fractional currency amount
is less than half the value of the basic currency unit, round
down to the next whole currency amount. If you choose to
round currency amounts, you must round all currency
amounts reported.
The following illustrates the application of this rule to
U.S. dollar amounts. To round off amounts to the nearest
whole dollar, drop amounts under 50 cents and increase
amounts from 50 to 99 cents to the next dollar. For
example, $1.39 becomes $1 and $2.50 becomes $3. If
you have to add two or more amounts to figure the
amount to enter on a line, include cents (your fractional
currency amount) when adding and only round off the
total.

Part I – Identification of Filer

Use Part I to provide identifying information about the
Form 8966 filer. All filers must complete lines 1 through
3c. Filers provide information on lines 4 through 10 as
required by the specific instructions for those lines.
Lines 1 through 3c. Enter the filer’s name and mailing
address, including country and postal code. If the filer is a
PFFI, provide the mailing address of the branch that
maintains the account reported in Part II. If the filer’s post
office does not deliver mail to a street address and the
filer has a post office box, enter the filer’s post office box
number instead of the filer’s street address.

TIP

A Direct Reporting NFFE must identify itself as
the filer and provide its identifying information on
lines 1 through 3c.

A Sponsoring Entity or trustee that has agreed to
assume the reporting obligations of a Sponsored
FFI, a Sponsored Direct Reporting NFFE, or
Trustee-Documented Trust, as applicable, must identify
itself as the Form 8966 filer and must provide its
identifying information on lines 1 through 3c. Sponsored
FFIs, Sponsored Direct Reporting NFFEs, and
Trustee-Documented Trusts are identified on line 6.

Correcting a previously filed Form 8966: Corrected,
Amended, and Voided Reports. If you are filing Form
8966 to correct or amend a previously filed Form 8966,
submit the corrected information on the Form 8966
applicable to the year of the initial reporting as follows:

TIP

Corrected report. If you are filing Form 8966 to correct
information submitted to the IRS in a previously filed Form
8966 in response to an IRS inquiry, complete Form 8966
containing the corrected information as if it were the
original Form 8966 for the year in question and check the
box “Corrected report.” You do not need to include a Form
8966 marked “Voided report” with the corrected Form
8966.

Line 4. If the filer has been assigned a GIIN by the IRS,
enter it on line 4. Use the GIIN of the branch of an FFI that
maintains the account (if applicable). If the filer is a Direct
Reporting NFFE, enter its GIIN, regardless of whether or
not the account is maintained by a branch. A Sponsoring
Entity or trustee filing Form 8966 on behalf of a Sponsored
FFI, Sponsored Direct Reporting NFFE, or
Trustee-Documented Trust, as applicable, should enter
the Sponsoring Entity’s or trustee’s GIIN.

If the Form 8966 that you are correcting was filed
electronically with the IRS, then the corrected
CAUTION
Form 8966 must also be filed electronically with
the IRS. If the Form 8966 that you are correcting was filed
in paper format with the IRS, then the corrected Form
8966 must also be filed in paper format with the IRS.
Failure to follow this rule will result in your corrected Form
8966 not being processed by the IRS.

!

A Sponsoring Entity should enter its Sponsoring
Entity GIIN, not the separate GIIN it receives
when registering as a PFFI or RDC FFI. A trustee
should enter the GIIN it receives when it registers to act as
a trustee of a Trustee-Documented Trust, not a separate
GIIN (if any) it receives when registering itself as a PFFI or
RDC FFI.

TIP

Amended report. If you are filing Form 8966 to correct a
previously filed Form 8966 and you have not been
contacted by the IRS, complete Form 8966 containing the
corrected information as if it were the original Form 8966
and check the box “Amended report.” A Form 8966
marked “Voided report” must be filed with the amended
Form 8966.

Line 5. If the filer has been assigned a U.S. taxpayer
identification number (TIN) by the IRS, enter it on line 5. A
QI, WP, or WT enters on line 5 the employer identification
number (EIN) that was issued by the IRS to be used by
the QI, WP, or WT when acting in its capacity as such.
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Instructions for Form 8966 (2014)

Part II – Account Holder or Payee Information

The filer is not required to obtain a TIN in order to file Form
8966 if the filer has not been issued a TIN.

See the chart at Specific Instructions and Special
instructions for filers not specifically listed in chart, earlier,
before you begin this part to determine whether you are
required to complete Part II.

Lines 6 through 10. Lines 6 through 10 only need to be
completed if the filer is a Sponsoring Entity or a trustee of
a Trustee-Documented Trust, or if the filer is making a
payment to a Territory Financial Institution that is acting as
an intermediary and is not treated as a U.S. person or to a
certified deemed-compliant FFI that is acting as an
intermediary and providing the filer with information on a
substantial U.S. owner of a passive NFFE account holder
or payee.
Enter the information required by lines 6 through 10 to
report the indicated information relating only to one of the
following:
A Sponsored FFI on behalf of which a Sponsoring
Entity is filing Form 8966.
A Sponsored Direct Reporting NFFE on behalf of which
a Sponsoring Entity is filing Form 8966.
A Trustee-Documented Trust on behalf of which a
trustee is filing Form 8966.
A Territory Financial Institution not treated as a U.S.
person that is acting as an intermediary and that receives
a withholdable payment from the filer of Form 8966.
A certified deemed-compliant FFI that is acting as an
intermediary and providing the filer with information on a
substantial U.S. owner of a passive NFFE account holder
or payee.

Jointly held accounts. If you are reporting a
jointly held account in Part II, you must report
CAUTION
each account holder that is a specified U.S.
person on a separate Form 8966.

!

Lines 1 through 5. Account holder or payee
information. Complete lines 1 through 5 as follows to
report information with respect to:
A U.S. account held by a specified U.S. person and
maintained by a PFFI.
A passive NFFE with substantial U.S. owners or an
ODFFI with certain equity or debt interests held by
specified U.S. persons that:
1. Is an account holder of a PFFI, or
2. Receives a withholdable payment from a
withholding agent.
An account held by a nonparticipating FFI that is not
included in a reporting pool.
See specific instructions for Direct Reporting NFFEs
and Sponsored Direct Reporting NFFEs, later, on how to
complete Part II.

Lines 6 through 8c. Follow the instructions for lines 1
through 3c to provide the information required by lines 6
through 8c. Enter the name and mailing address,
including country and postal code, of the Sponsored FFI,
Sponsored Direct Reporting NFFE, Trustee-Documented
Trust, Territory Financial Institution, or a certified
deemed-compliant FFI acting as an intermediary. If the
post office does not deliver mail to a street address and
the entity identified on line 6 has a post office box, enter
the post office box number instead of the street address.

Line 1. Enter the name of the account holder or payee.
Lines 2 through 3c. Enter the account holder’s or
payee’s residence address, including country and postal
code, on lines 2 through 3c. If a residence address cannot
be reported as required, report the address used for
account or payee mailings by the FFI or withholding
agent.
Line 3c. If you are reporting an address in the United
States, enter only the 9 digit zip code (zip + 4) for that
address.

Line 9. If the entity reported on line 6 is a Sponsored FFI,
Sponsored Direct Reporting NFFE, or a
Trustee-Documented Trust, enter the sponsored entity or
Trustee-Documented Trust’s GIIN on line 9, if the entity
has obtained a GIIN. If the entity reported on line 6 is a
Territory Financial Institution or other intermediary, leave
this line blank.

Line 4. If the account holder or payee has been assigned
a TIN, enter that number on line 4.
Line 5. Check the appropriate box on line 5 that
describes the account holder or payee reported in Part II,
Line 1.

A Sponsored FFI or Sponsored Direct Reporting
TIP NFFE is not required to have obtained a GIIN
prior to January 1, 2016. If the Sponsored FFI or
Sponsored Direct Reporting NFFE does not have a GIIN,
leave this line blank.

!

CAUTION

TIP

Direct Reporting NFFEs and Sponsored Direct Reporting NFFEs. If you are a Direct Reporting NFFE or a
Sponsoring Entity filing Form 8966 on behalf of a
Sponsored Direct Reporting NFFE, do not enter any
information in lines 1 through 4. Identifying information
about the Direct Reporting NFFE or Sponsored Direct
Reporting NFFE should be provided in Part I of the Form
8966. In line 5, check the Direct Reporting NFFE box.

Do not enter the GIIN of the Sponsoring Entity or
Trustee on line 9. That information is reported on
line 4.

Line 10. If the entity shown on line 6 has been issued a
TIN, enter the TIN on line 10. If the entity shown on line 6
is a Territory Financial Institution that has not been issued
a TIN by the IRS, report the EIN assigned to the entity by
the relevant U.S. territory.

Instructions for Form 8966 (2014)

Do not check the Direct Reporting NFFE box
except as permitted below.

Part III – Identifying Information of U.S. Owners
That Are Specified U.S. Persons

See the chart at Specific Instructions and Special
instructions for filers not specifically listed in chart, earlier,
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before you begin this part to determine whether you are
required to complete Part III.
Use Part III to report information about substantial U.S.
owners of a passive NFFE, substantial U.S. owners of a
Direct Reporting NFFE, substantial U.S. owners of a
Sponsored Direct Reporting NFFE, and specified U.S.
persons owning certain equity or debt interests in an
ODFFI identified in Part II, Line 1. Complete lines 1
through 4 to report U.S. owner information as follows:
Line 1. Enter the U.S. owner’s name.
Lines 2 through 3c. Enter the U.S. owner’s residence
address, including country and postal code, on lines 2
through 3c.
Line 3c. If you are reporting an address in the United
States, enter only the 9 digit zip code (zip + 4) for that
address.
Line 4. Enter the social security number (SSN), individual
taxpayer identification number (ITIN), or employer
identification number (EIN) of the U.S. owner.
U.S. owners. If you are a PFFI or withholding
agent reporting substantial U.S. owners of a
CAUTION
passive NFFE, or specified U.S. persons owning
certain equity or debt interests in an ODFFI, you are
required to file a separate Form 8966 to report information
required in Part III for each such substantial U.S. owner or
specified U.S. person. If you are a Direct Reporting NFFE
or Sponsored Direct Reporting NFFE, you are required to
file a separate Form 8966 to report each substantial U.S.
owner.

!

Part IV – Financial Information

See the chart at Specific Instructions and Special
instructions for filers not specifically listed in chart, earlier,
before you begin this part to determine whether you are
required to complete Part IV.

Use Part IV to provide financial information about:
An account maintained by a PFFI and held by a
specified U.S. person, passive NFFE with substantial U.S.
owners, ODFFI with specified U.S. persons holding
certain equity or debt interests in the ODFFI, or a
nonparticipating FFI reported on Part II, Line 1.
A withholdable payment made to a passive NFFE with
a substantial U.S. owner or an ODFFI with a specified
U.S. person holding certain equity or debt interests in the
ODFFI reported on Part II, Line 1 by a withholding agent
that is not a PFFI.
The value of each substantial U.S. owner’s equity
interest in the Direct Reporting NFFE or the Sponsored
Direct Reporting NFFE.
The total of all payments made to each substantial U.S.
owner of a Direct Reporting NFFE or a Sponsored Direct
Reporting NFFE during the calendar year.

PFFI Filers

Enter the following information on lines 1 through 4d for
each account required to be reported by a PFFI and held
by a specified U.S. person, a passive NFFE or ODFFI with
certain equity or debt interests held by more than one
specified U.S. person, or a nonparticipating FFI.

Line 1. Enter the account number on line 1. The account
number is the identifying number assigned by the PFFI for
a purpose other than the filing of this form, or, if no such
number is assigned to the account, a unique serial
number or other number the PFFI assigns to the account
for purposes of filing this form that distinguishes it from
other accounts maintained by the PFFI. For example, the
account number may be the account number of a
custodial account or depository account, the code (ISIN or
other) related to a debt or equity interest (if not held in a
custody account), or the identification code of a cash
value insurance contract or annuity contract. If the PFFI
has no account numbering system, enter NANUM for no
account number.
Line 2. If the amounts reported in lines 3 through 4d are
not reported in U.S. dollars, enter the code for the
currency in which the amounts are reported.
Line 3. Enter the average calendar year account balance
or value if that amount is reported to the account holder.
Otherwise, report the account balance or value as of the
end of the calendar year. See Regulations section
1.1471-5(b)(4) for detailed rules for determining an
account’s balance or value.

TIP

Each holder of a jointly held account is attributed
the entire balance or value of the joint account.

For reports filed for calendar year 2014, the
payment information on lines 4a through 4d is not
required. For reports filed for calendar year 2015,
the payment information on line 4c is not required, but the
information on lines 4a, 4b, and 4d must be provided. For
reports filed for calendar years after 2015, all of the
information on lines 4a through 4d must be provided.

TIP

For calendar years 2015 and 2016, with respect
to a nonparticipating FFI receiving a payment of a
foreign reportable amount, report the total
payments of foreign reportable amounts made to the
NPFFI either divided by type of payment on lines 4a
through 4d, or as one amount entered on line 4d.

TIP

Line 4a. Enter the aggregate gross amount of interest
paid or credited to the account being reported for the
calendar year.
Line 4b. Enter the aggregate gross amount of dividends
paid or credited with respect to an account being reported
for the calendar year.
Line 4c. Enter the aggregate gross proceeds from the
sale or redemption of property paid or credited to the
account being reported for the calendar year.
Line 4d. Enter the aggregate gross amount of all income
paid or credited to an account for the calendar year,
reduced by interest, dividends, and gross proceeds
reported on lines 4a through 4c. For accounts described
in Regulations sections 1.1471-5(b)(1)(iii) (certain debt or
equity interests) or 1.1471-5(b)(1)(iv) (certain cash value
insurance contracts and annuity contracts), enter the
aggregate gross amounts paid or credited to the account
during the calendar year, including payments in
redemption (in whole or part) of the account.
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Instructions for Form 8966 (2014)

If an account is closed or transferred in its entirety
by an account holder during a calendar year,
report the amounts paid or credited to the
account for the calendar year until the date of transfer or
closure, and the amount or value withdrawn or transferred
from the account in connection with the closure or
transfer. See Regulations section 1.1471-4(d)(4)(iv)(D).

TIP

Withholding agents. A withholding agent that is not an
FFI should enter the following information on lines 1
through 4d in connection with withholdable payments
made to:
An account maintained by the withholding agent and
held by a passive NFFE with a substantial U.S. owner or
an ODFFI with a specified U.S. person owning certain
equity or debt interests in the ODFFI.
A payment on an obligation made to a payee that the
withholding agent treats as a passive NFFE with
substantial U.S. owner(s) or an ODFFI with a specified
U.S. person owning certain equity or debt interests in the
ODFFI.
Line 1. If the payment is made to an account, enter the
account number on line 1. If the payment is not made to
an account maintained by the payor, enter NANUM for no
account number.
Line 2. If the amounts reported in lines 3 through 4d are
not reported in U.S. dollars, enter the code for the
currency in which the amounts are reported.
Line 3. With respect to an account held by an ODFFI,
enter the average calendar year account balance or value
if that amount is reported to the account holder.
Otherwise, report the account balance or value as of the
end of the calendar year. See Regulations section
1.1471-5(b)(4) for detailed rules for determining an
account’s balance or value. If the account holder is a
passive NFFE, do not enter any information on this line.
Line 4a. Enter the aggregate gross amount of interest
paid (or credited to the payee’s account) that is a
withholdable payment for the calendar year.
Line 4b. Enter the aggregate gross amount of dividends
paid (or credited to the payee’s account) that is a
withholdable payment for the calendar year.
Line 4c. Enter the aggregate gross proceeds paid (or
credited to the payee’s account) that is a withholdable
payment for the calendar year.
Line 4d. Enter the aggregate gross amount of all income
paid (or credited to the payee’s account) that is a
withholdable payment for the calendar year, reduced by
interest, dividends, and gross proceeds reported on lines
4a through 4c.

Direct Reporting NFFEs and Sponsored Direct
Reporting NFFEs

If you are a Direct Reporting NFFE or a Sponsoring Entity
filing Form 8966 on behalf of a Sponsored Direct
Reporting NFFE, complete lines 1 through 4d as follows:

Lines 1 and 2. Do not enter any information on lines 1
and 2.

Instructions for Form 8966 (2014)

Line 3. Enter the value of equity interest in the NFFE of
the substantial U.S. owner identified in Part III.
Lines 4a through 4d. Enter the total of all payments
made by the NFFE during the calendar year to the
substantial U.S. owner identified in Part III (either divided
by type of payment or as one amount on line 4d),
including the gross amounts paid or credited to the
substantial U.S. owner with respect to such owner’s equity
interest in the NFFE during the calendar year, which
include payments in redemption or liquidation (in whole or
part) of the substantial U.S. owner’s equity interest in the
NFFE.

Part V – Pooled Reporting Type

See the chart at Specific Instructions and Special
instructions for filers not specifically listed in chart, earlier,
before you begin this part to determine whether you are
required to complete Part V.
If you are a PFFI, use Part V to report information about
the accounts held by recalcitrant account holders (or, for
Reporting Model 2 FFIs, non-consenting U.S. accounts)
and nonparticipating FFIs you are reporting on a pooled
basis. If you are required to report more than one type of
pooled reporting accounts, file a separate Form 8966 for
each type.

!

CAUTION

Direct Reporting NFFEs and Sponsored
Direct Reporting NFFEs. Do not complete Part
V.

Lines 1 through 5. Complete lines 1 through 5 as
follows to report information about accounts for which
pooled reporting is permitted. A PFFI is not required to
complete line 3 for accounts held by recalcitrant account
holders (or non-consenting U.S. accounts).
Line 1. Check the appropriate box for the applicable
Pooled Reporting Type. See Accounts and Withholdable
Payments Required To Be Reported: Accounts for Which
Pooled Reporting is Permitted for the categories of pooled
reporting accounts.
For calendar years 2015 and 2016, if a PFFI is
prohibited under domestic law from reporting a
nonparticipating FFI on a specific payee basis
without consent from the nonparticipating FFI account
holder and the PFFI has not been able to obtain such
consent, the PFFI may report such accounts in a pool.
See Regulations section 1.1471-4(d)(2)(ii)(F).

TIP

For pooled reporting of non-consenting U.S.
accounts, report the type substituting
“non-consenting U.S. account” for “recalcitrant
account.”

TIP

Line 2. Enter the total number of accounts reported in
Part V.
Line 3. Only complete line 3 if you are reporting accounts
held by nonparticipating FFIs.
For calendar years 2015 and 2016, if you are
reporting accounts held by nonparticipating FFIs,
enter the aggregate amount of foreign reportable
amounts paid (or credited) to the accounts reported in

TIP

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Part V. See the definition of foreign reportable amount,
earlier. Instead of reporting foreign reportable amounts,
you may report all income, gross proceeds, and
redemptions (irrespective of source) paid to the accounts
reported in Part V during the calendar year.
You are not required to complete line 3 for accounts
held by recalcitrant account holders (or non-consenting
U.S. accounts).
Line 4. Enter the aggregate balance of the accounts
reported in Part V.
Line 5. If the amounts reported in lines 3 and 4 (to the
extent applicable) are not reported in U.S. dollars, enter
the code for the currency in which the amounts are
reported.
Paperwork Reduction Act Notice. We ask for the
information on this form to carry out the Internal Revenue
laws of the United States. Chapter 4 of the Code requires
certain withholding agents and foreign financial
institutions to report information with respect to certain
U.S. accounts, substantial U.S. owners of passive NFFEs,
U.S. accounts held by owner-documented FFIs, and
certain other accounts as applicable based on the filer’s
chapter 4 status. Form 8966 is used to comply with this
reporting requirement.

You are not required to provide the information
requested on a form that is subject to the Paperwork
Reduction Act unless the form displays a valid OMB
control number. Books or records relating to a form or its
instructions must be retained as long as their contents
may become material in the administration of any Internal
Revenue law. Generally, tax returns and return
information are confidential, as required by section 6103.
The time needed to complete and file this form will vary
depending on individual circumstances. The estimated
average time is 25 minutes.
If you have comments concerning the accuracy of this
time estimate or suggestions for making this form simpler,
we would be happy to hear from you. You can send us
comments from www.irs.gov/formspubs. Click on “More
Information” and then on “Give us feedback.” Or you can
write to Internal Revenue Service, Tax Forms and
Publications, SE:W:CAR:MP:TFP, 1111 Constitution Ave.
NW, IR-6526, Washington, DC 20224. Do not send the
form to this address. Instead, see When, How, and Where
to File, earlier.

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Instructions for Form 8966 (2014)