Professional FATCA Reporting Services
FATCA Reporting requirement is fulfilled by filing Form 8938, “Statement of Specified Foreign Financial Assets,” with the taxpayer’s annual federal income tax return. This form requires taxpayers to disclose information about their foreign financial accounts, including bank accounts, brokerage accounts, and certain other investments. FATCA, which stands for Foreign Account Tax Compliance Act, is a U.S. law that aims to prevent tax evasion by U.S. taxpayers holding assets in foreign financial institutions.