What is Form 14654?
Form 14654, Certification by U.S. Person Residing in the United States, is important for U.S. citizens who have foreign financial accounts. This form helps confirm that individuals are compliant with U.S. tax laws and have reported their foreign income correctly. By filing this form, you can avoid potential penalties and demonstrate your commitment to meeting your tax obligations. It’s a key step in ensuring that you are fully transparent about your financial activities, especially if you have accounts outside the U.S.
What is Form 14654 used for?
Form 14654 is used by U.S. citizens or residents to certify their status regarding foreign financial accounts. Here’s what it’s for:
- to confirm compliance with tax obligations.
- to report foreign accounts and assets.
- to avoid penalties for non-reporting.
How to fill out Form 14654?
- 1
Review the form requirements and instructions carefully to understand what information is needed.
- 2
Complete all sections with accurate personal information, including your name and address.
- 3
Provide details about your foreign financial accounts.
- 4
Sign the form using an electronic signature.
- 5
Download the completed form.
- 6
Submit it to the appropriate IRS address listed in the instructions.
Who is required to fill out Form 14654?
U.S. taxpayers in the Streamlined Domestic Offshore Procedures program must complete Form 14654. This includes individuals who haven't reported foreign assets or income.
Afterward, the IRS uses this form to verify compliance and determine eligibility for the program.
When is Form 14654 not required?
Taxpayers using the Streamlined Foreign Offshore Procedures do not need to file Form 14654, as they should complete Form 14653 instead.
If a spouse or former spouse refuses to sign a joint certification, the taxpayer can submit the form with just their signature and provide an explanation in the narrative statement. Additionally, those not eligible for the Streamlined Domestic Offshore Procedures also do not need to file this form.
When is Form 14654 due?
The deadline for Form 14654 is the same as the deadline for your completed Streamlined Domestic Offshore Procedures (SDOP) application. Form 14654 must be submitted along with the complete SDOP application package, which includes:
- Amended tax returns for the most recent 3 years
- Payment of all tax due and applicable statutory interest
- Payment of the Title 26 miscellaneous offshore penalty
- Any additional required documentation
Make sure to check the IRS website for the most current information and any updates regarding your submission.
How to get a blank Form 14654?
To obtain a blank Form 14654, simply use our platform, where the form is pre-loaded and ready for you to fill out.
The IRS issues this form.
How to sign Form 14654 online?
To sign Form 14654, begin by opening the form in PDF Guru. Click "Fill Form" to load the blank version of the document. Fill in all the required fields, and when you reach the signature section, you can create a simple electronic signature.
After completing the form, click "Done" to download your signed version. Remember to check the official IRS guidelines for any specific signature requirements before submission.
Where to file Form 14654?
Form 14654 must be submitted to the IRS Streamlined Domestic Offshore Procedures (SDOP).
Submission methods: online, mail or in-person.
