Printable 14653 Form Open Your Form

Printable 14653 Form

Form 14653 is a certification required by U.S. persons residing outside the United States who wish to participate in the Streamlined Foreign Offshore Procedures. This form allows individuals to report delinquent or amended income tax returns and address any failures to report foreign financial assets. If you need to fill out this form, please click the button below.

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Key takeaways

Filling out Form 14653 is an important step for U.S. persons residing outside the United States who need to correct their tax filings. Here are some key takeaways to consider:

  • Eligibility Requirements: Ensure you meet all eligibility criteria for the Streamlined Foreign Offshore Procedures before submitting the form.
  • Joint Certification: If you are filing jointly, both spouses must meet the non-residency requirements. Each spouse should provide individual reasons if they differ.
  • Record Retention: You are required to keep all records related to your income and assets for three years after certification. If you filed delinquent FBARs, keep those records for six years.
  • Statement of Facts: Provide a detailed narrative explaining your failure to report income and submit required returns. Include both favorable and unfavorable facts.
  • Non-Willful Conduct: You must assert that your failure to report was due to non-willful conduct, such as negligence or misunderstanding of the law.
  • Payment of Taxes: Calculate and report the total tax and interest owed for the three most recent years. Ensure your payment matches this total.
  • FBAR Filing: If you failed to file FBARs, confirm that you have now electronically filed them as part of the certification process.
  • Potential Consequences: Be aware that if the IRS finds evidence of willfulness or fraud, it may lead to penalties or further investigations.

What to Know About 14653

What is Form 14653 and who needs to use it?

Form 14653 is a certification form used by U.S. persons residing outside of the United States who want to participate in the Streamlined Foreign Offshore Procedures. This form is specifically for individuals who have not reported all of their income, paid all taxes, or submitted required information returns, including FBARs (Foreign Bank Account Reports). If you meet the eligibility criteria and have been living outside the U.S., this form allows you to correct your tax filings without facing penalties.

What are the eligibility requirements for using Form 14653?

To qualify for the Streamlined Foreign Offshore Procedures, you must meet several criteria. First, you need to have been physically outside the U.S. for at least 330 full days during one or more of the most recent three tax years. Additionally, you must not have had a U.S. abode during that time. It's also essential to demonstrate that your failure to report income and file necessary forms was due to non-willful conduct, such as negligence or misunderstanding of the tax laws. If you are filing jointly with a spouse, both of you must meet these residency requirements.

What information must I provide on Form 14653?

When filling out Form 14653, you need to provide detailed information about your tax situation. This includes listing the years for which you are submitting delinquent or amended returns, the amount of tax owed, and any interest. You must also explain the reasons for your failure to report income and file necessary forms, including the source of funds in your foreign accounts. If you relied on professional advice, include the advisor's contact information and a summary of the advice received. Providing a complete and honest narrative is crucial for your submission to be considered valid.

What happens after I submit Form 14653?

Once you submit Form 14653 along with your amended tax returns and any required documentation, the Internal Revenue Service (IRS) will review your submission. If everything is in order and you meet the eligibility criteria, you may receive penalty relief under the Streamlined Foreign Offshore Procedures. However, if the IRS discovers evidence of willfulness or fraud, they may initiate an investigation, which could lead to penalties or other consequences. It's essential to keep all records related to your income and assets for the required retention periods, as you may need to provide them upon request.

14653 - Usage Instruction

Filling out Form 14653 is an important step for U.S. persons residing outside the United States who wish to participate in the Streamlined Foreign Offshore Procedures. Completing this form accurately ensures that you meet the eligibility requirements and provide necessary information to the IRS. Follow these steps carefully to ensure your submission is complete.

  1. Gather necessary personal information, including your name(s), Tax Identification Number(s), telephone number, mailing address, city, state, and ZIP code.
  2. If applicable, decide whether you will be submitting a joint certification with your spouse. Remember that both spouses must meet the non-residency requirements.
  3. List the years for which you are submitting delinquent or amended income tax returns, ensuring you cover the most recent three years for which the U.S. tax return due date has passed.
  4. For each listed year, indicate the amount of tax owed, the form used (Form 1040 or Form 1040X), and any interest due.
  5. Confirm that you have electronically filed any required FBARs for the last six years.
  6. Provide a detailed statement of facts explaining your failure to report all income, pay all tax, and submit required information returns. Include personal and financial background details relevant to your situation.
  7. If you are a U.S. citizen or lawful permanent resident, indicate whether you were physically outside the U.S. for at least 330 full days in each of the last three years.
  8. If you are not a U.S. citizen or lawful permanent resident, attach your computation showing you did not meet the substantial presence test.
  9. Sign and date the form, ensuring all required signatures are present, especially if filing jointly.
  10. If applicable, provide the name and contact information of any paid preparer or designee authorized to discuss the form with the IRS.

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