14708

Streamlined Domestic Penalty Reconsideration Request Related to Canadian Retirement Plans

Agency
IRS
Revision
September 2016
Fillable fields
63
Pages
2
Official source
IRS form page
Checked
October 21, 2026
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Page 1 of form 14708

Form 14708: Streamlined Domestic Penalty Reconsideration for Canadian Retirement Plans

Form 14708, Streamlined Domestic Penalty Reconsideration Request Related to Canadian Retirement Plans, is for taxpayers who used the Streamlined Domestic Offshore Procedures. On the form, the taxpayer states that their original Form 14654 included the value of one or more Canadian retirement plans described in Rev. Proc. 2014-55 in the Highest Account Balance/Asset Value, and that they paid the 5% miscellaneous offshore penalty on those plans.

The form recomputes the penalty without the Canadian retirement plans: the previously reported penalty, the revised penalty and the requested refund (line 1 minus line 2). It lists each Canadian retirement plan, and the taxpayer agrees to keep records and that the determination is final and may not be appealed.

The form asks the taxpayer to review the Streamlined Filing Compliance Procedures FAQ on www.irs.gov before completing it. You can fill out the PDF free in your browser on this page and download it without an account.

What's on Form 14708

Taxpayer information

Names, TINs, mailing address and telephone number of the taxpayer or taxpayers.

Statements about Form 14654

Statements that the original certification included Canadian retirement plans, that the 5% penalty was paid on them, and that the taxpayer is an eligible individual under Rev. Proc. 2014-55.

Lines 1 to 3: penalty recomputation

The previously reported miscellaneous offshore penalty, the revised penalty, and the requested refund, which is line 1 minus line 2.

Highest balance year

Spaces for the original and the revised Highest Account Balance/Asset Value year, used if the revised value is for a different year.

Canadian retirement plans table

Name and address of each financial institution, the account number, and the year-end balance for the year with the highest account balance, stated in U.S. dollars.

Page 2: agreements and signatures

Agreements on records and finality, the penalties of perjury declaration, and signature lines for taxpayers, a fiduciary and a paid preparer, plus the third party designee question.

How to fill out Form 14708

  1. 1

    Review the FAQ first

    The form asks the taxpayer to review the Streamlined Filing Compliance Procedures for U.S. Taxpayers Residing in the United States Frequently Asked Questions and Answers on www.irs.gov before completing it.

  2. 2

    Enter taxpayer details

    Enter the name(s), TIN(s), mailing address and telephone number. The form says a joint request's statements are considered made on behalf of both spouses.

  3. 3

    Lines 1 to 3

    The form says the penalty is recomputed for the 3-year covered tax return period and 6-year covered FBAR period without the Canadian plans. Enter the old penalty on line 1, the revised penalty on line 2 and line 1 minus line 2 on line 3.

  4. 4

    Note a changed year

    If the revised Highest Account Balance/Asset Value is for a different year than in the original certification, enter both years.

  5. 5

    List each plan

    Identify each Canadian retirement plan with the financial institution's name and address, the account number and the year-end balance in U.S. dollars. The form says additional pages can be attached.

  6. 6

    Sign

    Sign and date under penalties of perjury. Both spouses sign after a joint certification, and a fiduciary signs for an estate.

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Where to send it and what it means

Where to send

The form says to send it and any attachments to: Internal Revenue Service, 3651 South I-H 35, Stop 4305 AUSC, Attn: Streamlined Unit, Austin, TX 78741.

Final determination

The taxpayer agrees that any determination made in relation to the request is final and may not be appealed.

Keeping records

The taxpayer agrees to keep all records related to the Canadian retirement plans and all assets subject to the 5% penalty until six years from the date of the request, and to provide them to the IRS upon request.

Time to complete

The Privacy Act and Paperwork Reduction Notice gives an estimated average time of 2 hours.

More forms in Retirement & savings plans

Who files Form 14708?

  • Streamlined domestic filers

    Taxpayers whose original Form 14654 included the value of Canadian retirement plans and who paid the 5% miscellaneous offshore penalty on them.

  • Spouses with a joint certification

    The form says if spouses previously submitted a joint certification, both spouses sign this form. A joint request is treated as made on behalf of both spouses.

  • Estates

    A fiduciary, such as an executor or administrator, signs in the For Estates Only section and gives their title and name.

  • Paid preparers

    A preparer can sign in the paid preparer section. The form says the signature of the taxpayer(s) or fiduciary is required even if a paid preparer signs.

  • Third party designees

    A taxpayer can allow another person to discuss the form with the IRS by checking Yes and entering the designee's name and telephone number.

The form is completed by taxpayers who submitted Form 14654, Certification by U.S. Person Residing in the United States for Streamlined Domestic Offshore Procedures, and who certify that they are an eligible individual as defined in section 4.01 of Rev. Proc. 2014-55.

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Questions about Form 14708

Who uses Form 14708?

Taxpayers whose Form 14654 under the Streamlined Domestic Offshore Procedures included Canadian retirement plans described in Rev. Proc. 2014-55, and who paid the 5% miscellaneous offshore penalty on them.

Where is Form 14708 mailed?

The form gives this address: Internal Revenue Service, 3651 South I-H 35, Stop 4305 AUSC, Attn: Streamlined Unit, Austin, TX 78741.

Can the decision be appealed?

No. The form says any determination made in relation to the penalty reconsideration request is final and may not be appealed.

How is the refund amount figured?

Line 3 is the previously reported miscellaneous offshore penalty on line 1 minus the revised penalty on line 2.

Do both spouses sign?

The form says if spouses previously submitted a joint certification, both spouses sign this form.

How long are records kept?

The taxpayer agrees to keep the records until six years from the date of the penalty reconsideration request.