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Form 14452: Foreign Account or Asset Statement
IRS Form 14452 is a Foreign Account or Asset Statement used to report foreign accounts and assets for the voluntary disclosure program. At least one Statement must be submitted.
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IRS Form 14452 - Foreign Account or Asset Statement
IRS Form 14452 is a Foreign Account or Asset Statement used to report foreign accounts and assets for the voluntary disclosure program. At least one Statement must be submitted.
Risk Radar
Scan points- 1Failing to submit a separate Statement for *each* foreign account or asset is the highest risk.
- 2Failing to submit a separate Statement for every single foreign account or asset reported.
- 3Not listing the Name under which the account was held (Line 9).
- 4Omitting the Date account was opened (Line 11) for any listed item.
- 5For assets, failing to provide the FMV at 12/31 if the asset is still owned (Line 17).
Plain English
This form allows filers to declare specific foreign bank accounts, investments, or physical assets they hold within the United States. It provides details about where these items are located, what type of asset they are, and when they were acquired or sold. The information helps the IRS determine the correct tax amount under the offshore voluntary disclosure program.
Submission Date
- Filing date: 2020-05-11 22:10:57
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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Glossary Terms
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What this form is for
- Use this form when reporting a single foreign account or asset as part of an offshore voluntary disclosure.
- Do not use Form 14452 when your filing is solely for general tax return purposes and does not relate to the offshore voluntary disclosure program.
- Check Form 6001, Form 6109, or Form 7803 instead when referencing specific statutory authority for the information being provided.
Form selector
Use this form or another form?
Filing under a tax treaty
The form uses IRS authority sections to support disclosure requirements.
✓ Check supporting documentation for treaty details.
Reporting entity assets
This form allows reporting the type of entity holding the account/asset in lines 10 and 7.
✓ Ensure you specify 'Bank or Financial Accounts' if applicable.
Receiving a notice related to offshore disclosure
The IRS uses this statement to determine tax liability under the voluntary disclosure program.
✓ Verify the required information matches the specific notice received.
Deadline or filing window
The source does not specify an initial filing deadline date. However, the estimated average time needed to complete and submit the Foreign Account or Asset Statement is 2 hours. No specific extension period is mentioned in the official excerpt.
Checklist
What you need before filling it out
Name of Foreign Financial Institution
The name under which the account was held · Line 1 (and Line 9)
Account Type
Yes/No selection for Cash, Securities, or Other · Lines 4, 5, and 6
Asset Description & Location
Detailed description of the asset (e.g., real estate) and where it is located · Line 14
Purchase Price
The dollar amount paid to acquire the item/asset · Line 15a
FMV at 12/31
Fair Market Value of the account or asset as of December 31st · Line 17
Before you submit
- 1Submit a separate Statement for each foreign account or asset.
- 2Ensure at least one statement is submitted if reporting any accounts/assets.
- 3Answer every applicable question in the space provided, using attachments if necessary.
- 4Verify that you have listed the Name of Foreign Financial Institution (Line 1).
- 5Confirm the Date account was opened (Line 11) and the Date account was closed (Line 12), if applicable.
- 6If reporting an asset, verify you have provided its Purchase price (Line 15a).
- 7Check that the highest value/FMV over the disclosure period is included on the Penalty Computation Worksheet.
How to file this form
- 1Complete a separate Statement for every foreign account or asset by filling out all applicable lines.
- 2Record the Name under which the account was held (Line 9) and its Country of location (Line 2).
- 3For assets, detail the Description and location (Line 14), along with the Purchase price (Line 15a) and Date acquired (Line 15b).
- 4Calculate and record the Fair Market Value (FMV) as of 12/31 (Line 17) for each account or asset.
- 5Submit all completed Statements to the Internal Revenue Service, ensuring one is submitted for every foreign item reported.
Known limitations
- 1A separate Statement must be submitted for each foreign account or asset included in the voluntary disclosure.
- 2The form is not required to be filed if an individual chooses not to apply for participation in the offshore voluntary disclosure program, though all requested information must be provided if they do choose to apply.
- 3Information on Form 14452 may not be required unless the document displays a valid OMB control number (Paperwork Reduction Act Notice).
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is June 2014 (Rev. 6-2014). The source provides the specific revision date and notes that this version carries the Catalog Number 61597G.
What changed or needs a fresh check
- Edition date — confirm revision reads June 2014 (Rev. 6-2014)
- Catalog Number — confirm it reads 61597G
- OMB Number — confirm it reads 1545-2241
- Required Submission — confirm you are submitting a separate Statement for each foreign account or asset.
- Estimated Completion Time — confirm the average time estimate is 2 hours.
Quick Facts
Downloads
After you file
- 1Retain books or records related to Form 14452 as long as their contents may become material in the administration of any Internal Revenue law.
- 2The estimated average time needed to complete and submit the form is 2 hours.
- 3If comments regarding accuracy or simplicity are submitted, they should be sent to the IRS at Attn: IRS Reports Clearance Officer, SE:W:CAR:MP:T:T:SP, Washington, DC 20224.
- 4Failure to provide information on Form 14452 may delay or prevent processing of an application.
- 5Providing false information on Form 14452 may subject the filer to penalties.
Sources
- SRCForm 14452 (June 2014) is titled Foreign Account or Asset Statement.
- SRCA separate Statement must be submitted for each foreign account or asset included in the voluntary disclosure.
- SRCNot stated in the official source — verify on the agency site
- SRCThe estimated average time needed to complete and submit Form 14452 is 2 hours.
- SRCIRS authority to ask for information comes from sections 6001, 6109, 7801, and 7803 of the Internal Revenue Code.
- SRCThe form's OMB Number is 1545-2241.
Common confusion points
What if I have multiple foreign accounts/assets?
A separate Statement must be submitted for each one.
→ Ensure you submit at least one, even if it's just a single asset.
Do I need to fill out all the questions?
Respond to each applicable question in the space provided; attachments are allowed if more space is needed.
→ Check which fields apply based on your situation (e.g., bank vs. real estate).
What happens if an account was closed?
You must provide the date the account was closed (Line 12) and the sales price/date of disposition if applicable (Lines 16a/16b).
→ Don't leave fields blank if they apply to your asset.
Where do the values go?
The highest value of the account and/or fair market value of the asset over the disclosure period should be included on the Penalty Computation Worksheet.
→ Confirm these values are properly recorded for calculation purposes.
What is the difference between an 'asset' and an 'account'?
An account can be a bank, custodial, or another type; an asset can be real estate, artwork, bullion, etc., though some overlap (like a CD held in an account).
→ Review Lines 4-7 to classify your item.
Who is the authority asking for this information?
The Internal Revenue Service (IRS) has authority under sections 6001, 6109, 7801, and 7803 of the Internal Revenue Code.
→ This confirms the request is official.
Workflow map
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⚠ If something goes wrong
- Failure to provide information may delay or prevent processing your application.
Questions about IRS Form 14452
What is IRS Form 14452 used for?
This form allows filers to declare specific foreign bank accounts, investments, or physical assets they hold within the United States. It provides details about where these items are located, what type of asset they are, and when they were acquired or sold. The information helps the IRS determine the correct tax amount under the offshore voluntary disclosure program.
Who must file IRS Form 14452?
Filers must submit Form 14452 for each foreign account or asset included in their voluntary disclosure. The form is used to report these assets, and at least one Statement must be submitted.
What information does IRS Form 14452 require?
The form collects details such as the Name of Foreign Financial Institution (Line 1), Country where Institution is located (Line 2), and whether the account holds cash or securities (Lines 4 & 5). For physical items, it gathers the Description and location of the asset (Line 14).
When is IRS Form 14452 due?
The source does not state a specific deadline for filing Form 14452; however, the time needed to complete and submit the form is estimated at 2 hours.
Where do I file IRS Form 14452?
Comments regarding the accuracy of the time estimate or suggestions can be sent to the Internal Revenue Service at Attn: IRS Reports Clearance Officer, SE:W:CAR:MP:T:T:SP, Washington, DC 20224. The form is associated with Catalog Number 61597G.
How do I complete IRS Form 14452?
A separate Statement must be submitted for each foreign account or asset reported. The filer must respond to every applicable question in the space provided on Form 14452. A statement must also include the Name, Social Security Number, and address of the filer before submission.
What happens if IRS Form 14452 is filed incorrectly?
Failing to provide the requested information may delay or prevent processing an application, and providing false information may subject a filer to penalties.
What if I have multiple foreign accounts/assets?
A separate Statement must be submitted for each one. Ensure you submit at least one, even if it's just a single asset.
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