IRS- 8966 Report:

IRS-8966 Report is also to submitted by the Direct Reporting Foreign Financial Institutions(FFI), which have registered with Inland Revenue Service (IRS) of USA ( Where Model 1 IGA is not entered between USA and the respective reporting Country), IRS-8966 Reports have to be submitted every year as at 31st Dec as per the format provided by IRS. To generate IRS-8966 Report, user has to select the year and the Account _Holder_ID for whom IRS-8966 has to be generated as input data elements.

The sample IRS-8966 Report is shown above. IRS-8966 report for the Recalcitrant accounts has to be submitted by the Direct Reporting FFIs every year as at 31st Dec as per the format below: This report can be generated for 6 types of accounts like Dormant Accounts, Accounts with US indicia, Accounts without US Indicia etc., by selecting suitable item under the drop down list.

The above sample report is generated for “Dormant Accounts” in respect of Recalcitrant Accounts.