Instructions for Form 8966

2025

Instructions for Form 8966

FATCA Report

Section references are to the Internal Revenue Code

unless otherwise noted.

General Instructions

Future Developments

Summary of Chapter 4 and Related

Matters

For the latest information about developments related to

Form 8966 or its instructions, such as legislation enacted

after they were published, go to IRS.gov/Form8966.

Reminders

Reporting on accounts held by nonparticipating Foreign Financial Institutions (FFIs). Participating FFIs

(PFFIs) (including Reporting Model 2 FFIs) are not

required to report an account held by a nonparticipating

FFI in Part II or Part V. Therefore, PFFIs (including

Reporting Model 2 FFIs) should not check the box for

“nonparticipating FFI” on line 5 of Part II, should not check

the pooled reporting type “nonparticipating FFI” on line 1

of Part V, and should not complete line 3 of Part V.

Reporting Model 2 FFI related entities or branches.

Reporting Model 2 FFIs may have related entities or

branches provided that the conditions in the Model 2

intergovernmental agreement (IGA) are met, including the

requirement that the related entity or branch reports U.S.

accounts to the IRS to the extent permitted. A related

entity or branch of a Reporting Model 2 FFI filing Form

8966 should enter the filer category code for limited

branch or limited FFI on line 1b of Part I.

Reporting Model 2 FFIs reporting on non-consenting

U.S. accounts. If a Reporting Model 2 FFI is reporting a

preexisting account that is a non-consenting U.S. account,

the Reporting Model 2 FFI should use the pooled

reporting category for recalcitrant account holders that are

U.S. persons or recalcitrant account holders with U.S.

indicia (as appropriate). If a Reporting Model 2 FFI is

reporting a new individual account that has a change in

circumstances that causes the Reporting Model 2 FFI to

know or have reason to know that the original

self-certification is incorrect or unreliable and the

Reporting Model 2 FFI is unable to obtain a valid

self-certification establishing whether the account holder

is a U.S. citizen or resident, the Reporting Model 2 FFI

should use the pooled reporting category for recalcitrant

account holders with U.S. indicia.

U.S. branches. On line 1b of Part I, all U.S. branches of

an FFI not treated as U.S. persons should enter the filer

category code for PFFIs (code 01). All U.S. branches that

are treated as U.S. persons should select the filer

category code for withholding agents (code 10).

Apr 16, 2025

Under chapter 4 of the Internal Revenue Code (Code)

(sections 1471–1474 and Treasury Regulations

(Regulations), 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% 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. An FFI may

also be excepted from chapter 4 withholding if it is

deemed to comply with the provisions of section 1471(b)

under Regulations section 1.1471-5(f) or is otherwise

exempt from withholding if it is an exempt beneficial owner

for chapter 4 purposes under Regulations section

1.1471-6. Chapter 4 also requires a withholding agent to

deduct and withhold tax equal to 30% 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 or debt interests in a

payee that the withholding agent has agreed to treat as an

ODFFI.

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

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 and certain

aggregate information concerning account holders who do

not waive legal restrictions for the FFI to report this

Instructions for Form 8966 (2025) Catalog Number 59612Q

Department of the Treasury Internal Revenue Service www.irs.gov

information (non-consenting U.S. accounts).

Trustee-Documented Trusts subject to a Model 2 IGA are

reported by the trustee of the Trustee-Documented Trust.

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, specified U.S. persons that own certain debt or

equity interests in ODFFIs, and certain other accounts as

applicable based on the filer’s chapter 4 status. Unless

otherwise indicated, Reporting Model 2 FFIs should

submit Form 8966 to report on their 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 ODFFI, and for each group of accounts of

an FFI 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 U.S. accounts, accounts held by ODFFIs,

and accounts held by recalcitrant account holders (based

on the pools described in Part V).

• U.S. branch of an FFI not treated as a U.S. person.

A U.S. branch of an FFI 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).

• Registered deemed-compliant FFI (RDCFFI). An

RDCFFI must file Form 8966 to report a U.S. account for

which it has reporting obligations as a condition of its

applicable RDCFFI status. See Regulations section

1.1471-5(f)(1)(i) or an applicable Model 2 IGA.

• Related entity or branch described in an applicable

Model 2 IGA. A related entity or branch described in an

applicable Model 2 IGA must file Form 8966 to report a

U.S account to the extent permitted under the relevant

laws pertaining to the branch or FFI.

• Reporting Model 2 FFI. A Reporting Model 2 FFI must

file Form 8966 to report information with respect to U.S.

accounts, accounts held by ODFFIs, and non-consenting

U.S. accounts (based on the pools described in the

instructions for Reporting Model 2 FFIs in Part V).

• 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, beneficiaries, or owners, 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

or report that it has none. See Regulations section

1.1472-1(c)(3).

• Sponsoring Entity. A Sponsoring Entity must file Form

8966 to report an account of an FFI or a substantial U.S.

owner of a passive NFFE 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

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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.

Sponsored FFIs and Sponsored Direct Reporting

TIP NFFEs do not need to file Form 8966 if a

Sponsoring Entity is reporting on their behalf.

• Trustee-Documented Trust. A trustee of a

Trustee-Documented Trust reports on Form 8966 all

information required to be reported under an applicable

IGA as if it were a Reporting Model 2 FFI with respect to

each U.S. account maintained by the

Trustee-Documented Trust.

Special Rules for Certain Form 8966 Filers

• Withholding agents. A withholding agent that is not an

FFI and that makes a withholdable payment to a passive

NFFE with a substantial U.S. owner (either directly or

indirectly through a flow-through entity that is also a

passive NFFE) if the first-mentioned NFFE is the

beneficial owner of the payment, or a withholding agent

that is a designated withholding agent and that makes a

withholdable payment to 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

(including a Reporting Model 2 FFI) or RDCFFI 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 (including a Reporting Model 2 FFI) has

agreed to treat as an ODFFI, the PFFI (including a

Reporting Model 2 FFI) or RDCFFI that elects reporting on

Form 1099 must still file Form 8966 to report such

accounts.

A withholding agent that is a U.S. payor reporting

payments to U.S. non-exempt recipients must

CAUTION report these payments on the appropriate Form

1099 to the extent required under chapter 61. You do not

need to file Form 8966 to report these payments.

!

An FFI other than a PFFI, Reporting Model 2 FFI,

or RDCFFI that is not required to file Form 8966

CAUTION may still be required to report a payment under

chapter 61.

!

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

instructions.

• PFFI (including a Reporting Model 2 FFI) or

RDCFFI electing chapter 61 reporting. A PFFI

Instructions for Form 8966 (2025)

(including a Reporting Model 2 FFI) or RDCFFI 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

(including a Reporting Model 2 FFI) or RDCFFI 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 (including a

Reporting Model 2 FFI) or RDCFFI has agreed to treat as

an ODFFI, the PFFI (including a Reporting Model 2 FFI) or

RDCFFI that elects reporting under chapter 61 must still

file Form 8966 to report such accounts.

• U.S. branch that is treated as a U.S. person. A U.S.

branch that is treated as a U.S. person must file Form

8966 in the same manner as a withholding agent (see

earlier). See Regulations sections 1.1471-1(b)(135) and

1.1441-1(b)(2)(iv).

• Territory Financial Institution that is treated as a

U.S. person. A Territory Financial Institution that is a

flow-through entity or that acts as an intermediary with

respect to a withholdable payment and that agrees to be

treated as a U.S. person must file Form 8966 in the same

manner as a withholding agent (see earlier). See

Regulations sections 1.1471-1(b)(131) and 1.1471-2(a)(2)

(iv).

Combined Reporting Following a Merger or Bulk

Acquisition of Accounts

If a PFFI (including a Reporting Model 2 FFI) (successor)

acquires accounts of another PFFI (including a Reporting

Model 2 FFI) (predecessor) in a merger or bulk acquisition

of accounts, the successor may assume the

predecessor’s obligations to report the acquired accounts

on Form 8966 for the calendar year in which the merger or

acquisition occurs, provided the requirements in

Regulations section 1.1471-4T(d)(2)(ii)(G)(1) through (4)

are satisfied.

When, How, and Where To File

When to file. Form 8966 is required to be filed on or

before March 31 of the year following the end of the

calendar year for which the form is required to be filed. 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.

Note. If the due date falls on a weekend or on a U.S. legal

holiday, the due date will be the next business day.

Extension of time to file. An automatic 90-day

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

request an automatic 90-day extension of time to file

Forms 8966, file Form 8809-I. See the Instructions for

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

an extension as soon as you are aware that an extension

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

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

8966 filed by a Reporting Model 2 FFI to report a

non-consenting U.S. account. A Reporting Model 2 FFI

should refer to the applicable Model 2 IGA for the due

dates for those filings.

Instructions for Form 8966 (2025)

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). To request an

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

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

due date. See the Instructions for Form 8809-I for more

information on the requirements for requesting an

additional extension for filing Form 8966.

Each branch requesting an automatic or additional

extension must file a separate Form 8809-I.

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 filers are strongly encouraged to

electronically file Forms 8966. To request a waiver from

the required filing of Forms 8966 electronically, submit

Form 8508-I. Waiver requests should be filed at least 45

days before the due date of the returns. See the

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

information.

How to file electronically. Those filing electronically

should refer to Pub. 5124 for instructions on how to

populate the fields for the electronic Form 8966. These

instructions can generally be used to supplement Pub.

5124. Information on how to submit the Form 8966

electronically to the IRS is provided in Pub. 5190 and Pub.

5188.

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.

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 all paper Forms 8966, along

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

Submissions, to the following address.

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, as well as answers to Frequently

Asked Questions, go to IRS.gov/FATCA.

Definitions

For detailed information about definitions that apply for

purposes of FATCA generally, see Regulations section

1.1471-1(b). A Reporting Model 1 FFI or Reporting Model

2 FFI should also refer to definitions that may apply under

an applicable IGA 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.

Account/financial account. An account or financial

account means a financial account described in

Regulations section 1.1471-5(b).

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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. An 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 a

financial institution 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 financial institution,

and includes a disregarded entity of a financial institution.

A branch includes units, businesses, and offices of a

financial institution located in the country (or jurisdiction)

in which the financial institution is a resident as well as

units, businesses, and offices of a financial institution

located in the country in which the financial institution 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.

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).

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 of such

corporations), 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).

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.

Financial institution (FI). An FI 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).

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Foreign financial institution (FFI). Except as otherwise

provided for certain foreign branches of a U.S. financial

institution or Territory Financial Institution, an FFI 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.

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).

Global intermediary identification number (GIIN). A

GIIN is a number assigned to a PFFI, Reporting Model 1

FFI, Reporting Model 2 FFI, RDCFFI, and certain other

registering entities (for example, 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.

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 Treasury.gov/Policy-Issues/

Tax-Policy/Foreign-Account-Tax-Compliance-Act.

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

Treasury.gov/Policy-Issues/Tax-Policy/Foreign-AccountTax-Compliance-Act.

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.

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.

Nonparticipating FFI. A nonparticipating FFI is an FFI

other than a PFFI, a deemed-compliant FFI, or an exempt

beneficial owner.

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.

Instructions for Form 8966 (2025)

Owner-documented FFI (ODFFI). An ODFFI is an FFI

described in Regulations section 1.1471-5(f)(3).

Participating FFI (PFFI). A PFFI is an FFI that has

agreed to comply with the requirements of an FFI

agreement with respect to all branches of the FFI, other

than a branch that is a reporting Model 1 FFI or a U.S.

branch. The term PFFI also includes an FFI or branch of

an FFI described in a Model 2 IGA that has agreed to

comply with the requirements of an FFI agreement with

respect to a branch, and a QI branch of a U.S. financial

institution, unless such branch is a reporting Model 1 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).

Pooled reporting. For purposes of this form, a PFFI is

permitted to report recalcitrant account holders (or, with

respect to a Reporting Model 2 FFI, non-consenting U.S.

accounts) on an aggregate basis in a reporting pool rather

than report specific account holder information. With

respect to recalcitrant account holders, a reporting pool

consists of account holders that fall within a particular type

described in Regulations section 1.1471-4(d)(6). With

respect to non-consenting U.S. accounts, see Accounts

and Withholdable Payments Required To Be Reported for

which pooled reporting is permitted, later.

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 in effect a QI agreement with the IRS.

A WP is a foreign partnership that has in effect a

withholding foreign partnership agreement with the IRS. A

WT is a foreign trust that has in effect a withholding foreign

trust agreement with the IRS.

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 (RDCFFI). 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.

Related entity or branch of a Reporting Model 2 FFI.

A related entity or branch of a Reporting Model 2 FFI is an

entity or branch treated as a nonparticipating FFI under

Article 3(5) of the Model 2 IGA (or any analogous

provision in an applicable Model 2 IGA).

Reporting Model 1 FFI. A Reporting Model 1 FFI is an

FI, including a foreign branch of a U.S. financial institution,

treated as a reporting financial institution under a Model 1

IGA.

Instructions for Form 8966 (2025)

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.

Specified U.S. person. A specified U.S. person is any

U.S. person described in Regulations section 1.1473-1(c).

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).

Sponsored FFI. A Sponsored FFI is an FFI that is an

investment entity, a controlled foreign corporation, or a

closely held investment vehicle that has 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 person. A territory NFFE that is not an

excepted NFFE determines its substantial U.S. owners by

applying the 10% 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.

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

person means a Territory Financial Institution treated as a

U.S. person under Regulations section 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 that is treated as

a U.S. person under Regulations section 1.1441-1(b)(2)

(iv)(A).

Withholding agent. With respect to a withholdable

payment, a withholding agent is a person described in

Regulations section 1.1473-1(d).

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Withholdable payment. A withholdable payment is a

payment described in Regulations section 1.1473-1(a).

Accounts and Withholdable Payments

Required To Be Reported

Accounts to be reported. A PFFI, Reporting Model 2

FFI, or RDCFFI required to report as if it is a PFFI 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 the FFI is

required to treat as U.S. accounts or accounts held by

ODFFIs, including accounts that are identified as U.S.

accounts 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. Such an

FFI must also report accounts that are treated as held by

recalcitrant account holders at the end of the calendar

year. If an account holder rolls over the amounts in one

account into another account (of the same or different

type) with the same FFI during the calendar year, do not

report the account twice. Form 8966 reporting is required

for the following accounts.

• U.S. account maintained by a PFFI, Reporting Model 2

FFI, or RDCFFI required to report as if it is a PFFI 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 the 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.

Note. See Regulations section 1.1471-5(b) for details on

the types of accounts potentially subject to reporting,

including depository accounts, custodial accounts, equity

or debt interests in certain types of financial institutions,

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 when an account is

jointly held.

• 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 described in Regulations

sections 1.1471-3(d)(6)(iv)(A)(1) and (2) and 1.1471-4(d)

(2)(iii)(D) (excluding certain indirect owners described in

Regulations section 1.1471-5(f)(3)(ii)(E)).

• 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

6

report each U.S. account (within the meaning of the Model

2 IGA) of the Trustee-Documented Trust.

• Account held by a Territory Financial Institution not

treated as a U.S. person. File a separate Form 8966 with

respect to each specified U.S. person or substantial U.S.

owner of a passive NFFE for which the Territory Financial

Institution acts as an intermediary or is a flow-through

entity and provides the PFFI (including a 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).

• Accounts for which pooled reporting is permitted. PFFIs

may report accounts held by the following persons 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. If a

Reporting Model 2 FFI is reporting a preexisting account

that is a non-consenting U.S. account, the Reporting

Model 2 FFI should use the pooled reporting category for

recalcitrant account holders that are U.S. persons or

recalcitrant account holders with U.S. indicia (if the

Reporting Model 2 FFI treats the account as a U.S.

account based on U.S. indicia, as permitted under Annex I

of the Model 2 IGA). If a Reporting Model 2 FFI is

reporting a new individual account that has a change in

circumstances that causes the Reporting Model 2 FFI to

know or have reason to know that the original

self-certification is incorrect or unreliable and the

Reporting Model 2 FFI is unable to obtain a valid

self-certification establishing whether the account holder

is a U.S. citizen or resident, the Reporting Model 2 FFI

should use the pooled reporting category for recalcitrant

account holders with U.S. indicia. (See Part V, Pooled

Reporting Type, later.)

Account information to be reported. The following

information is reported on Form 8966. 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, the name and address of the

NFFE, the identification of the 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).

Instructions for Form 8966 (2025)

• Account held by ODFFI. With respect to an account

held by an ODFFI, the name and address of the ODFFI

and, with respect to each specified U.S. person that owns

certain equity or debt interests in the ODFFI described in

Regulations section 1.1471-3(d)(6)(iv)(A)(1) and (2)

(excluding certain indirect owners described in

Regulations section 1.1471-5(f)(3)(ii)(E)), 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).

• 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.

Withholding Agent Reporting

A withholding agent (other than an FFI reporting accounts

maintained by such FFI under the account reporting rules

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 described in Regulations section 1.1471-3(d)

(6)(iv)(A)(1) and (2) (excluding certain indirect owners

described in Regulations section 1.1471-5(f)(3)(ii)(E)),

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. A withholding agent is not

required to report on Form 8966 on a withholdable

payment made to a PFFI (including a Reporting Model 2

FFI) or a Reporting Model 1 FFI that is allocated to a

payee that is an ODFFI on an FFI withholding statement

when the PFFI (including a Reporting Model 2 FFI) or

Reporting Model 1 FFI includes on the statement the

certification described in Regulations section 1.1471-3(c)

(3)(iii)(B)(2)(v), provided that the withholding agent does

not know or have reason to know that the certification is

incorrect or unreliable. 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. A withholding agent is not required to report

on Form 8966 on a withholdable payment made to a PFFI

(including a Reporting Model 2 FFI) or an RDCFFI that is

allocated to a payee that is a passive NFFE with one or

more substantial U.S. owners on an FFI withholding

statement when the PFFI (including a Reporting Model 2

FFI) or RDCFFI includes on the statement the certification

described in Regulations section 1.1471-3(c)(3)(iii)(B)(2)

(iv), provided the withholding agent does not know or have

reason to know that the certification is incorrect or

unreliable. See Regulations section 1.1474-1(i)(1).

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 (or, in the case of a Reporting Model 2 FFI,

controlling person) 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

Pooled reporting for recalcitrant account holders (or non-consenting U.S.

accounts)

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, 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

Instructions for Form 8966 (2025)

requirements of a PFFI unless otherwise indicated. A

Sponsoring Entity of a Sponsored FFI files under the

requirements of a PFFI. An RDCFFI 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

7

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 related entity

or branch described in an applicable Model 2 IGA, 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.

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

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).

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.

Identifier

identifying number must be numeric (for example, 001)

and must be exactly three digits. Enter the three-digit

identifying number in the box for “Identifier” at the top of

the form.

If you are filing a paper Form 8966 that is an amended,

corrected, or voided report, you must include the unique

identifying number that you assigned to the original form

that is being amended, corrected, or voided. For example,

to amend a form that had an identifying number of 002,

the amended form should also have the identifying

number 002. In addition, the identifying number will be

used by the IRS to identify the form in any

correspondence with the filer.

The identifying number must be unique to each original

Form 8966 filed for the current year. The identifying

number can be reused on a new original form in a

subsequent year.

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.

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 notification, 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 copy

of the originally filed Form 8966 marked “Voided report”

with the corrected Form 8966.

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.

!

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 copy of the Form

8966 as originally filed with the IRS, updated by checking

the “Voided report” box, must be filed with the amended

Form 8966.

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.

!

Filers submitting paper Forms 8966 must assign a unique

identifying number to each Form 8966 they file. The

8

Instructions for Form 8966 (2025)

Voided report. If you are filing an amended report, also

file a copy of the Form 8966 as originally filed with the IRS,

updated by checking the “Voided report” box.

No accounts to report. A Direct Reporting NFFE or a

Sponsoring Entity reporting on behalf of a Sponsored

Direct Reporting NFFE that has no substantial U.S.

owners to report during the calendar year should check

this box and complete Part I only. This box is optional for

filers other than Direct Reporting NFFEs and Sponsoring

Entities filing on behalf of a Sponsored Direct Reporting

NFFE.

Part I—Identification of Filer

Use Part I to provide identifying information about the

Form 8966 filer. All filers must complete lines 1a through

3c. Filers provide information on lines 4 through 10 as

required by the specific instructions for those lines.

Line 1a. Enter the filer's name.

A Direct Reporting NFFE must identify itself as the

TIP filer and provide its identifying information on lines

1a through 3c.

A Sponsoring Entity or trustee that has agreed to

TIP 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 1a through 3c. Sponsored

FFIs, Sponsored Direct Reporting NFFEs, and

Trustee-Documented Trusts are identified on line 6.

Line 1b. Enter one of the filer category codes listed

below.

provide the mailing address of the office 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.

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.

A Sponsoring Entity should enter its Sponsoring

TIP Entity’s GIIN, not a separate GIIN (if any) it

receives when registering as a PFFI or RDCFFI. 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 RDCFFI.

Line 5. If the filer has been assigned a U.S. taxpayer

identification number (TIN) by the IRS, enter it on line 5. If

you entered a GIIN on line 4, do not complete line 5.

However, 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 (in addition to entering its GIIN on line 4). The filer

is not required to obtain a U.S. TIN in order to file Form

8966 if the filer has not been issued a U.S. TIN. Do not

enter a foreign TIN. If the filer does not have a U.S. TIN,

leave this line blank.

• PFFI (other than a Reporting Model 2 FFI and including

a U.S. branch of a PFFI not treated as a U.S.

person)—Enter code 01.

• RDCFFI—Enter code 02.

• Limited Branch or Limited FFI—Enter code 03.

• Reporting Model 2 FFI—Enter code 04.

• QI, WP, or WT—Enter code 05.

• Direct Reporting NFFE—Enter code 06.

• Sponsoring Entity of a Sponsored FFI—Enter code 07.

• Sponsoring Entity of a Sponsored Direct Reporting

NFFE—Enter code 08.

• Trustee of a Trustee-Documented Trust—Enter code 09.

• Withholding Agent (including a U.S. branch of a PFFI,

Reporting Model 1 FFI, Reporting Model 2 FFI, or RDCFFI

treated as a U.S. person and a U.S. branch of a Reporting

Model 1 FFI (including any other RDCFFI) or Limited FFI

that is not treated as a U.S. person)—Enter code 10.

• Territory Financial Institution treated as a U.S.

person—Enter code 11.

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 or that is a flow-through entity 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 or that is a

flow-through entity 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.

Lines 2 through 3c. Enter the filer’s mailing address,

including country and postal code. If the filer is a PFFI,

Lines 6 through 8c. Follow the instructions for lines 1a

through 3c to provide the information required by lines 6

A related entity or branch should use the code for

TIP limited branch or limited FFI (code 03). All U.S.

branches of FFIs not treated as U.S. persons

should use the code for PFFIs (code 01). All U.S.

branches that are treated as U.S. persons should use the

code for withholding agents (code 10).

Instructions for Form 8966 (2025)

9

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 9. If the entity reported on line 6 is a Sponsored FFI

(other than a sponsored, closely held investment vehicle)

or a Sponsored Direct Reporting NFFE, enter the

Sponsored Entity's GIIN on line 9. If the entity reported on

line 6 is a Territory Financial Institution;

Trustee-Documented Trust; Sponsored FFI that is a

sponsored, closely held investment vehicle; or certified

deemed-compliant FFI acting as an intermediary, leave

this line blank.

Do not enter the GIIN of the Sponsoring Entity or

trustee of a Trustee-Documented Trust on line 9.

CAUTION That information is reported on line 4.

!

Line 10. If the entity shown on line 6 has been issued a

U.S. TIN, enter the TIN on line 10. If you entered the

entity's GIIN on line 9, do not complete 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. If the entity

shown on line 6 does not have either a GIIN or a TIN,

leave line 10 blank.

Part II—Account Holder or Payee

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 II.

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 complete Part

II. Identifying information about the Direct Reporting NFFE

or Sponsored Direct Reporting NFFE should be provided

in Part I of the Form 8966.

Jointly held accounts. If you are reporting a

jointly held account in Part II, you must report each

CAUTION account holder that is a specified U.S. person on a

separate Form 8966.

!

Lines 1a through 5. Account holder or payee

information. Complete lines 1a 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, unless the withholding agent receives

the certification from a PFFI or RDCFFI receiving the

payment, as described in Withholding Agent Reporting

10

under Accounts and Withholdable Payments Required To

Be Reported, earlier.

Line 1a. Enter the name of the account holder or payee.

Line 1b. Check the appropriate box to indicate whether

the account holder or payee is an individual or entity.

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 4. If the account holder or payee has been assigned

a TIN, enter that number on line 4. If the account holder or

payee does not have a TIN, leave line 4 blank.

Line 5. Check the appropriate box on line 5 that

describes the account holder or payee reported on

line 1a.

Part III—Owner Information (File a

Separate Report for Each U.S. Owner

That Is a Specified U.S. Person)

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 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 1a. 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 a Sponsoring Entity filing on behalf of a Sponsored

Direct Reporting NFFE, you are required to file a separate

Form 8966 to report each substantial U.S. owner.

!

Instructions for Form 8966 (2025)

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, or ODFFI with specified U.S. persons holding

certain equity or debt interests in the ODFFI reported on

Part II, line 1a.

• 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 1a, 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 by such NFFE

with respect to each such owner's equity interest in the

NFFE.

If an account is closed or transferred in its entirety

TIP during the calendar year, enter the amount or

value withdrawn or transferred from the account in

connection with the closure or transfer on line 3a and

check the box on line 3b for “Account closed during the

year.”

Each holder of a jointly held account is attributed

TIP the entire balance or value of the joint account.

Line 3b. Account closed during the year. Check this

box if the account reported in Part IV was closed or

transferred in its entirety during the calendar year. If an

account holder rolls over the amounts in one account into

another account (of the same or different type) with the

same FFI during the calendar year, do not report the

account as closed.

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.

PFFI Filers

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 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 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, other than an interest as a partner in a

partnership) 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, and do not

enter any amounts on lines 4a through 4c. In the case of

an account that is a partner’s interest in a partnership,

report the amount of the partner’s distributive share of the

partnership’s income or loss for the calendar year, without

regard to whether any such amount is distributed to the

partner during the year, and any guaranteed payments for

the use of capital, and do not enter any amounts on lines

4a through 4c. The amounts required to be reported may

be determined based on the partnership's tax returns or, if

the tax returns are unavailable by the due date for filing

this form, the partnership's financial statements or any

other reasonable method used by the partnership for

calculating the partner's share of partnership income by

such date.

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 with respect

to its substantial U.S. owners, or an ODFFI with respect to

certain equity or debt interests held by more than one

specified U.S. person.

Line 2. If the amounts reported on lines 3a and 4a

through 4d are not reported in U.S. dollars, enter the code

for the currency in which the amounts are reported. The

currency code must be a valid three-character ISO 4217

currency code. If the amounts are reported in U.S. dollars,

enter “USD.”

Line 3a. 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.

Instructions for Form 8966 (2025)

If an account is closed or transferred in its entirety

TIP during a calendar year, report the amounts paid or

credited to the account for the calendar year until

the date of transfer or closure on lines 4a through 4d. See

Regulations section 1.1471-4(d)(4)(iv)(D).

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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 on lines 3a and 4a

through 4d are not reported in U.S. dollars, enter the code

for the currency in which the amounts are reported. The

currency code must be a valid three-character ISO 4217

currency code. If the amounts are reported in U.S. dollars,

enter “USD.”

Line 3a. 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, or if the payment is not made to an

account, enter “0” on this line.

Line 3b. Do not check the box on line 3b.

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.

Line 1. Enter “NANUM” (for no account number) on

line 1.

Line 2. If the amounts reported on lines 3a and 4a

through 4d are not reported in U.S. dollars, enter the code

for the currency in which the amounts are reported. The

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currency code must be a valid three-character ISO 4217

currency code. If the amounts are reported in U.S. dollars,

enter “USD.”

Line 3a. Enter the value of the equity interest in the NFFE

of the substantial U.S. owner identified in Part III.

Line 3b. Do not check the box on line 3b.

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 on lines 4a through 4d 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 a

Reporting Model 2 FFI, non-consenting U.S. accounts) on

a pooled basis. If you are required to report more than one

type of pooled reporting account, file a separate Form

8966 for each type.

Direct Reporting NFFEs and Sponsored

Direct Reporting NFFEs. Do not complete Part

CAUTION V.

!

Lines 1 through 5. Complete lines 1, 2, 4, and 5 as

follows to report information about accounts for which

pooled reporting is permitted. Do not complete line 3.

Line 1. Check the appropriate box for the applicable

pooled reporting type. See Accounts and Withholdable

Payments Required To Be Reported for which pooled

reporting is permitted for the categories of pooled

reporting accounts.

If you are a Reporting Model 2 FFI reporting a

TIP preexisting account that is a non-consenting U.S.

account, use the pooled reporting category for

recalcitrant account holders that are U.S. persons or

recalcitrant account holders with U.S. indicia (if the

Reporting Model 2 FFI treats the account as a U.S.

account based on U.S. indicia, as permitted under Annex I

of the Model 2 IGA). If you are a Reporting Model 2 FFI

reporting a new individual account that has a change in

circumstances that causes you to know or have reason to

know that the original self-certification is incorrect or

unreliable and you are unable to obtain a valid

self-certification establishing whether the account holder

is a U.S. citizen or resident, use the pooled reporting

category for recalcitrant account holders with U.S. indicia.

Line 2. Enter the total number of accounts reported in

Part V.

Line 3. Do not complete this line.

Instructions for Form 8966 (2025)

Line 4. Enter the aggregate balance or value of the

accounts held by recalcitrant account holders (or, for

Reporting Model 2 FFIs, non-consenting U.S. accounts) at

the end of the year.

Line 5. If the amounts reported on 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. The currency code must be a valid

three-character ISO 4217 currency code. If the amounts

are reported in U.S. dollars, enter “USD.”

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.

Instructions for Form 8966 (2025)

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 IRS.gov/FormComments. Or you can

write to Internal Revenue Service, Tax Forms and

Publications,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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