1. Introduction – What is Form 433-F?

IRS Form 433-F, officially titled Collection Information Statement, is a streamlined 2-page financial disclosure form governed by the Internal Revenue Service (IRS). It is used to collect financial data from individual taxpayers who owe unpaid federal income taxes.

Form 433-F is primarily utilized by the IRS Automated Collection System (ACS) and centralized processing campuses. It collects essential financial information, including bank balances, real estate equity, monthly gross income, and necessary household living expenses.

The IRS uses Form 433-F to evaluate your financial capacity, helping representatives decide whether you qualify for an Installment Agreement, Currently Not Collectible (CNC) hardship status, or a Partial Payment Installment Agreement.

2. Purpose of the Form

The primary purpose of Form 433-F is to provide the IRS with a simplified, verified overview of an individual’s current financial situation. It determines how much a taxpayer can afford to pay toward their tax debt without experiencing severe economic hardship.

Form 433-F solves the operational problem of processing high-volume individual tax debt collection cases. While full field investigations use longer financial forms, ACS phone representatives use Form 433-F as an efficient 2-page tool to quickly evaluate financial hardship requests.

Additionally, Form 433-F establishes an objective standard for allowable living expenses, ensuring that taxpayers retain enough income to cover housing, utilities, food, and healthcare while addressing their outstanding tax liabilities.

3. Who Needs to File This Form

Form 433-F is required for individual taxpayers and self-employed sole proprietors who owe back federal taxes and are negotiating payment relief through the IRS Automated Collection System (ACS).

You will generally need to file Form 433-F if you fall into any of the following situations:

Requesting Currently Not Collectible (CNC) Status: You are asking the IRS to pause collection actions because your living expenses equal or exceed your gross monthly income.
Applying for Partial Payment Plans: You are requesting a customized payment plan where you pay less than the full balance before the statutory collection period ends.
Responding to IRS CP504 or Intent to Levy Notices: You received a final notice of intent to levy and need to demonstrate financial hardship to stop a bank levy or wage garnishment.
Working with ACS Representatives: An ACS phone agent or campus collection letter specifically requests a completed Form 433-F to evaluate your payment plan options.

4. Who Is Exempt / Not Required to File

Not every taxpayer with an outstanding tax balance is required to fill out Form 433-F. The IRS provides simplified payment options for many taxpayers.

You are NOT required to file Form 433-F if you meet any of these criteria:

Streamlined Installment Agreements: You owe less than $50,000 in combined individual taxes, penalties, and interest, and agree to pay the debt in full within 72 months via direct debit.
Taxpayers Assigned to Field Revenue Officers: Taxpayers working directly with a local field Revenue Officer are typically required to fill out the more comprehensive Form 433-A instead.
Corporate Businesses: Corporations, partnerships, and multi-member LLCs file Form 433-B for business tax liabilities.
Offer in Compromise Applicants: Taxpayers applying to settle tax debt for less than the full balance file Form 433-A (OIC) or Form 433-B (OIC) rather than Form 433-F.

5. When to File

Form 433-F is an event-driven form submitted upon request or when petitioning the IRS for financial hardship or customized payment options.

Keep these primary submission rules in mind:

When Responding to ACS Notices: Submit Form 433-F within the timeframe specified on your IRS notice (usually 14 to 30 days) to prevent levy action.
When Requesting Hardship Status: Submit the form immediately when calling or writing the IRS to petition for Currently Not Collectible status.
When Re-evaluating Hardship Status: The IRS may request an updated Form 433-F every 1 to 2 years to confirm your income has not increased while in CNC hardship status.

6. Where and How to File

Form 433-F is submitted by paper mail or fax to the IRS Automated Collection System (ACS) office or campus unit handling your file. Standalone online e-filing is not available for this form.

Refer to the official IRS notice, CP504 letter, or LT11 notice you received for the exact mailing address or dedicated fax number. If you are discussing your case with an ACS phone representative, they will provide the specific fax number or mailing address to send your Form 433-F and supporting documents.

7. Step-by-Step Instructions to Fill the Form

Form 433-F organizes your financial details into eight logical sections on a 2-page sheet. Review the summary guide below to complete each part accurately.

Form Section	Section Title	Key Information to Disclose
Section A	Bank Accounts & Lines of Credit	Checking, savings, online balances, lines of credit, and cryptocurrency holdings.
Section B	Real Estate	Primary residence and secondary properties, current values, and mortgage loan balances.
Section C	Other Assets	Vehicles, stocks, bonds, IRAs, 401(k)s, and self-employed business assets.
Section D	Credit Cards	Credit card names, total balances owed, and minimum monthly payments.
Section E	Business Information	Details for self-employed individuals, including business accounts and accounts receivable.
Sections F & G	Household Income	Gross monthly wages, pensions, Social Security, interest, and non-wage household revenue.
Section H	Monthly Living Expenses	Essential living costs compared against IRS National and Local Standard benchmarks.

Sections A, B & C – Assets and Real Estate

List all liquid cash accounts in Section A, including bank checking/savings accounts, PayPal balances, and digital cryptocurrency wallets. In Section B, disclose real estate properties, estimated market values, and mortgage payoff amounts. In Section C, detail personal vehicles, stocks, 401(k) accounts, IRAs, and tools.

Section D & E – Credit Cards and Self-Employment Details

Section D requests details on credit card debts and minimum monthly payments. If you are self-employed or a sole proprietor, complete Section E with your business structure, business accounts, and client accounts receivable balances.

Sections F & G – Household Monthly Income

Report gross monthly earnings for all household members in Sections F and G. Include W-2 gross wages, self-employment net receipts, Social Security benefits, pension payments, child support, rental income, and interest income.

Section H – Allowable Monthly Expenses and Signature

Section H details monthly living expenses. The IRS limits expenses using IRS National and Local Standards for food, clothing, housing, utilities, and transportation. You can also report out-of-pocket medical costs, health insurance premiums, court-ordered payments, and current taxes. Sign and date the bottom of Page 2 under penalties of perjury.

8. Required Documents/Information Needed Before Filling

To verify the numbers reported on Form 433-F, the IRS requires supporting verification documentation. Submitting the form without required attachments will result in processing delays.

Gather the following financial records before completing the form:

Bank Statements: Complete statements for all personal and business checking and savings accounts for the last 3 months.
Income Verification: Pay stubs covering the last 1 to 3 months, or Social Security/pension benefit statements.
Proof of Expenses: Recent rent/mortgage bills, utility statements, health insurance premium bills, and out-of-pocket medical receipts.
Vehicle & Property Statements: Vehicle loan payoff letters and real estate mortgage statements showing current balances.

9. Common Mistakes to Avoid

Completing Form 433-F incorrectly can result in rejected hardship requests and immediate levy enforcement. Avoid these common mistakes:

Omitting Bank or Crypto Accounts: Leaving out secondary bank accounts, online payment balances, or cryptocurrency holdings. The IRS cross-checks banking databases.
Claiming Expenses Above IRS Standards: Entering actual expenses for housing or food that exceed IRS National and Local Standards without providing documented proof of special health or welfare needs.
Failing to Attach Pay Stubs or Bank Statements: Mailing Form 433-F without required 3-month bank statements or pay stubs.
Confusing Form 433-F with Form 433-A (OIC): Submitting Form 433-F when applying for an Offer in Compromise. Settlement offers require Form 433-A (OIC) or Form 433-B (OIC).
Leaving Income Sections Blank: Forgetting to include non-wage household income such as Social Security, pensions, or spouse earnings.

10. Penalties for Non-Filing or Errors

Form 433-F is a sworn financial disclosure document. Refusing to submit it or providing false numbers carries serious administrative and legal consequences.

Key risks include:

Immediate Bank Levies and Wage Garnishments: Failing to submit Form 433-F when requested allows ACS to issue automated levies against your bank accounts or wages.
Rejection of Payment Relief: Requests for Currently Not Collectible status or partial payment plans will be denied immediately.
Perjury Prosecution: Knowingly concealing assets or making false statements on Form 433-F is a federal crime under 18 U.S.C. 1001, punishable by fines and up to 5 years in prison.

11. Related Forms or Schedules

Form 433-F belongs to a family of IRS collection forms used across different tax debt situations:

Form 433-A: Collection Information Statement for Wage Earners and Self-Employed Individuals (the longer 6-page field version).
Form 433-B: Collection Information Statement for Businesses.
Form 433-D: Installment Agreement (used to set up direct debit payment plans).
Form 9465: Installment Agreement Request.
Form 433-A (OIC): Collection Information Statement for Individuals submitting an Offer in Compromise.

12. Frequently Asked Questions

1. What is IRS Form 433-F?

IRS Form 433-F is a simplified 2-page financial disclosure form used by the Automated Collection System (ACS) to evaluate an individual’s income, assets, and expenses to determine tax debt payment options.

2. What is the difference between Form 433-A and Form 433-F?

Form 433-A is a detailed 6-page financial statement used primarily by local field Revenue Officers. Form 433-F is a shorter, 2-page statement used by centralized ACS collection units.

3. Can filing Form 433-F stop an IRS bank levy or wage garnishment?

Yes. Submitting a completed Form 433-F demonstrating financial hardship (where allowable expenses exceed income) can convince the IRS to release active bank levies or wage garnishments and grant Currently Not Collectible status.

4. What are IRS National and Local Standards?

IRS National and Local Standards are capped monthly expense allowances set by the government for food, clothing, housing, utilities, and transportation. The IRS uses these figures to determine allowable living expenses on Form 433-F.

5. Do I need to submit bank statements with Form 433-F?

Yes. The IRS requires complete bank statements covering the last 3 consecutive months for all personal and business accounts listed on Form 433-F.

6. What happens if my monthly expenses exceed my income on Form 433-F?

If your allowable living expenses exceed your total gross monthly income, you have negative disposable income. This generally qualifies you for Currently Not Collectible (CNC) hardship status, pausing active collection actions.

13. Conclusion

IRS Form 433-F is a vital administrative tool for taxpayers seeking relief from IRS collection enforcement. By providing a clear, 2-page overview of your assets, income, and necessary living expenses, it lays the foundation for securing financial hardship status or a manageable payment plan.

To ensure a successful outcome with ACS, complete all eight sections accurately, adhere to IRS allowable expense standards, attach required bank statements and pay stubs, and sign the document truthfully.

IRS Form 433-F Guide: Collection Information Statement