Taxpayer’s Guide to IRS Form 433-F

For most taxpayers, the IRS collection process starts with a letter, an IRS letter that compels you to examine your finances more closely. That letter often requests more than payment information; it requests a better idea of what you truly can afford to pay. And before the IRS makes a decision, they'll request you to fill out one particular form that provides your financial story in its entirety: IRS Form 433-F.

This blog post describes what the 433 F Form is, why the IRS requests it, and how to properly prepare it so your case is considered fairly, not on assumptions.

Collection Information Statement

When the IRS needs to understand your finances before deciding how to collect a tax balance, they may ask you to complete Form 433-F, called the Collection Information Statement. This form helps them see what you earn, what you spend, and what you own so they can judge what kind of payment or relief option makes sense for you. 

Here’s what the form covers: 

• Income: Salaries, earnings from business, benefits, or other regular sources of funds.
• Expenses: Mortgage or rent, utilities, food, transportation, and healthcare expenses.
• Assets: Accounts in the bank, cars, real estate, or investments that retain value.
• Debts: Credit cards, loans, or other regular payments.

Most individuals are requested to complete this form after receiving an IRS notice or when they call the agency to arrange for payments. It is not part of your standard tax return; it is a standalone form applied only within the collection process to enable the IRS to review your case promptly and justly.

When Do You Need to File Form 433-F?

You are not required to submit Form 433-F to the IRS in every case. In most instances, the IRS will make such a request when it needs to get a clear picture of your finances before determining its methods of collecting the tax that you owe. To put it differently, they will ask you for the form when you have to prove to them what is within your means.

The following are the most frequent situations in which the IRS might ask you to submit it:

• Following a balance-due notice: If you received letters such as CP501, CP503, or CP504(B) indicating unpaid tax, the IRS may request Form 433 F before setting up a payment option.
• When applying for a payment plan: If you owe more than a certain amount (usually over $50,000), the IRS needs this form to review your income and expenses before approving an installment agreement.
• Before placing your account on hold: If you’re struggling financially and want the IRS to mark your account as Currently Not Collectible (CNC), they use Form 433-F to confirm your hardship.
• After receiving a levy or wage garnishment notice: If your wages are garnished or your bank account is levied, you are at risk of being taken. The IRS frequently uses this form to determine whether a collection pause or payment plan is appropriate.
• During an active collection call: If you’re speaking with an IRS Automated Collection agent, they may ask you to complete this form while they review your case.

Filing 433-F Form isn’t something you do on your own; it’s a direct response to an IRS request. They’ll tell you exactly when they need it and where to send it. Submitting it promptly helps prevent collection actions while your financial review is in progress.

What to Prepare Before You Start?

Before you begin filling out Form 433-F, it helps to have all your financial records in one place. The IRS wants a full, honest snapshot of your income, expenses, and assets, and the form moves quickly if you already have the right paperwork ready. Having these details on hand also prevents delays or back-and-forth requests from the IRS later.

Here’s what you’ll need:

• Proof of income: your latest pay stubs, business income statements, Social Security or pension documents, and any other regular income records.
• Recent bank statements: usually the last three months for checking, savings, or any other account you use.
• Housing and utility bills: rent or mortgage statements, property tax records, electricity, gas, water, and internet bills.
• Loan and debt details: monthly payment amounts, lender names, account numbers, and remaining balances for credit cards, car loans, or personal loans.
• Insurance and medical costs: proof of health, life, and auto insurance payments, plus regular medical expenses like prescriptions or doctor visits.
• Asset information: car titles, property deeds, investment account statements, or anything that shows ownership and value.
• Business documents (if self-employed): recent profit-and-loss statements, 1099s, invoices, and records of business expenses.

It’s best to make copies or digital scans of everything. When the IRS asks for verification, you can send the exact documents they need without scrambling to find them again.

Once you’ve gathered these essentials, you’ll be ready to move on to understanding the expense standards the IRS uses to decide how much of your budget they’ll allow before calculating what you can pay.

IRS Tax Form 433-F Instructions

Before you start filling out Form 433 F, it helps to know what each section of the form is asking for and why. The IRS uses this form to collect the financial details it needs to decide how you can settle your tax balance, whether through a payment plan, temporary relief, or another option.

If your goal is an installment agreement, you’ll often submit Form 9465 along with Form 433-F. You can also check if you qualify for an online payment plan directly on IRS.gov by visiting “I need to pay my taxes” → “Installment Agreement.”

Here’s a quick look at what each part of the 433 F Form covers:

• Section A – Accounts and Lines of Credit: List every bank or credit account in your name, even if the balance is zero. Include checking, savings, money market, and business accounts. Don’t list bank loans here. For stocks, bonds, or similar items, enter “Not Applicable (N/A)” for questions that don’t apply.
• Section B – Real Estate: List all property you own or are buying, including your home. Show the current value, the amount owed, and what’s included in your monthly payment (taxes, insurance, etc.).
• Section C – Other Assets: Add vehicles, boats, collectibles, or business tools. Include make, model, year, and value minus what you owe. Whole life insurance, stocks, or digital assets also go here.
• Section D – Credit Cards: List all cards and credit lines, even if there’s no current balance.
• Section E – Business Information: Complete only if you or your spouse are self-employed.
  • E1 – Accounts Receivable: List any money owed to you or your business, including contracts or grants.
  • E2 – Payment Methods: If you accept credit-card or digital-currency payments, provide the processor or wallet details
• Section F – Employment Information: Used if you or your spouse earns wages. If you attach a current pay stub, you can skip this part.
• Section G – Non-Wage Household Income: Report other income like business profits, rental earnings, Social Security, or retirement payments. Use actual cash income, not depreciation or paper losses.
• Section H – Monthly Living Expenses: List your monthly expenses. If a bill isn’t monthly, convert it first:
  • Quarterly ÷ 3 
  • Weekly × 4.3 
  • Biweekly × 2.17 
  • Semimonthly × 2

Expenses Include

The IRS breaks down living expenses into specific categories to see how your budget aligns with normal living costs. Each one represents a core part of your monthly spending that helps show what’s left to pay your tax balance.

• Housing and utilities: Rent or mortgage, property taxes, insurance, electricity, gas, water, phone, and internet.
• Transportation: Fuel, insurance, repairs, registration, parking, tolls, or public-transport fares.
• Medical: Health insurance premiums and out-of-pocket costs such as prescriptions, dental, and eyeglasses (cosmetic work doesn’t count).
• Child or dependent care: Daycare, babysitting, or elder care needed for work.
• Estimated tax payments: Divide quarterly payments by 3 to find a monthly figure.
• Life insurance: term-life only; list whole-life in Section C.
• State and local taxes: Minimum required monthly payment plus statement copy.
• Student loans: Allowed if federally guaranteed; provide proof of balance and payments.
• Court-ordered payments: Supply the court order and proof of payment.
• Other necessary expenses: Only if essential for health, welfare, or income production, specify and list the monthly amount.

The IRS compares these expenses to the allowable standards we discussed earlier. Any amounts above those limits need receipts or statements to back them up.

How to Complete IRS Form 433-F?

After you have collected all the necessary documents and checked the expense limits, you are ready to fill in Form 433-F. This section will direct you on what to input in each part so that you can do it correctly and not be held up. Keep your figures truthful and aligned with the documents that support them; the IRS will scrutinize them very closely.

Step 1: Start With Personal Details

Enter your full name, complete address, Social Security number, and telephone number as they are on your last tax return. If you are in a marriage, then also provide your partner’s information even if he or she owes no taxes. This way the IRS can correctly determine the income and the expenses of the household.

Step 2: Report Your Employment And Income

In case you are employed, jot down the employer's name, address, and your net monthly pay (after tax and deduction).

In case you are self-employed, give your business type, gross income, and average monthly expenses. If it is available, attach a current profit and loss statement or recent invoices.

Other income sources along with Social Security, pension, unemployment benefits, rental, or child support received must be reported too. For sources that vary every month, use a realistic average.

Step 3: Add Your Bank Accounts And Cash

List all your checking and savings accounts, even those with small or no balances. For each one, provide the name of the financial institution, account type, and current balance. Additionally, mention any cash you have. The IRS frequently cross-examines this with your statements; hence, ensure it is consistent with your latest records.

Step 4: List Your Assets

Your list must contain homes, cars, and possibly more valuable assets such as yachts, stocks, or life insurance policies with cash value as well.

Daily living costs that you shouldn't forget about for each item include:

• The price according to the market that you estimate.
• Any outstanding loans on it (if any).
• Equity equals the difference.

If you’re in doubt about a property’s value, it’s possible to rely on a recent appraisal or a local online estimate.

Step 5: Record your monthly living expenses

This is the place for you to put in your daily costs: housing, utilities, food, medical, transportation, and insurance. Change non-monthly bills into monthly totals (e.g., quarterly ÷ 3 or weekly × 4.3).

Be practical and keep it about the IRS Allowable Standards for 2025. In case your costs are above those limits, you will have to provide receipts or statements as proof that they are essential.

Step 6: Include Your Debts And Payments

Enumerate credit cards, loans, or any other debts for which you are making payments. For each one, give the name of the creditor, the total amount owed, and the least amount to be paid per month. Include any payments ordered by the court, student loans, or state tax debts that are still in effect.

Step 7: Double-Check And Attach Documents

Prior to sending your form:

• Check your totals against your pay stubs, bank statements, and bills.
• Confirm that nothing is missing or incorrectly rounded.
• Always attach copies of your proofs, not originals.
• Retain one complete copy for your records.

Completing Form 433-F meticulously provides the IRS with the clarity it requires to expedite your case processing and also helps you avoid follow-up requests.

Where to Mail IRS Form 433-F?

The address for sending the 433 F Form isn’t the same for everyone. It depends on where you live and whether you’re submitting it along with Form 9465 (Installment Agreement Request) or sending it separately.

Here’s how to make sure it reaches the right place:

• If the IRS requested it in a notice: Use the mailing address or fax number listed on that notice. That’s always the correct destination for your case.
• If you’re submitting it with Form 9465: Mail both forms to the address shown in the Form 9465 instructions. The address varies by state and whether you’re including a payment.
• If you’re submitting it on its own: Use the address for your state as listed in the official Form 433-F instructions on IRS.gov.

You can also send the form by fax if the notice or IRS agent provides a fax number. Always keep a copy of everything you send and note the date it was submitted for your records.

How to Submit Form 433-F to the IRS? 

You can send Form 433-F to the IRS in a few different ways, depending on how it was requested and what’s mentioned in your notice:

• By mail: If you received a notice asking for the form, mail it to the address shown on that notice. If you’re submitting it with Form 9465 (Installment Agreement Request), use the address listed in that form’s instructions.
• By fax: Many IRS collection units accept faxed copies. The fax number will be printed on the notice or provided by the IRS representative handling your case.
• By phone (for simple reviews): Sometimes, an IRS Automated Collection agent will review your financial details over the phone while you reference your completed form. They may still ask you to fax or mail copies later.
• Keep records: Always keep a full copy of your submitted form and any proof of delivery or fax confirmation for your files.

Once submitted, allow time for review. The IRS may contact you if it needs clarification or supporting documents.

What Happens After You File Form 433-F?

Once the IRS receives the 433 F Form, it reviews your information to decide how to handle your balance. This review looks at your income, expenses, and assets to see what payment or relief option fits your situation.

Here’s what usually happens next:

• Financial review: The IRS checks your numbers against the Collection Financial Standards to confirm which expenses are considered reasonable.
• Possible outcomes: Based on your ability to pay, they may:
  • Approve a payment plan (Installment Agreement).
  • Place your account in Currently Not Collectible (CNC) status if you can’t pay right now.
  • Refer your case for an Offer in Compromise (OIC) review if full payment isn’t possible.
• Follow-up: The IRS might request proof for certain expenses before making a final decision.

That’s it; after review, you’ll receive a notice explaining the next step or confirming your arrangement.

Other IRS 433 Forms

The IRS 433 Form isn’t the only financial statement the IRS uses. There are a few related forms, each meant for a slightly different situation. They all serve the same purpose, helping the IRS see what you can realistically pay, but the level of detail changes depending on your case.

Here’s a quick breakdown:

• Form 433-A (Collection Information Statement for Wage Earners and Self-Employed Individuals): A detailed version of Form 433-F, used by the IRS to evaluate an individual’s complete financial situation, income, expenses, assets, and debts, before deciding on payment plans, Currently Not Collectible (CNC) status, or an Offer in Compromise. It’s meant for wage earners and self-employed individuals, not businesses.
• Form 433-B (Collection Information Statement for Businesses): Used for corporations, partnerships, or Limited Liability Companies (LLCs). It focuses on business income, assets, and debts instead of personal finances.
• Form 433-A (OIC) / Form 433-B (OIC) (Offer in Compromise Versions): Special versions of these forms are used only when submitting Form 656 (Offer in Compromise). The IRS uses them to determine how much of your tax balance can be settled based on your financial situation.
• Form 433-D (Installment Agreement): The agreement you sign once a payment plan is approved. It outlines your monthly payment amount and the terms of the plan.

Think of Form 433-F as the faster, simpler version used mainly for quick reviews by the IRS Automated Collection System, while the others come into play when your case needs a deeper financial review.

Get Help With Form 433-F

Filling out Form 433-F may seem simple, but every detail affects how the IRS views your ability to pay. Small mistakes, like omitting expenses or vague information, can delay processing and lead to an inaccurate assessment of your financial situation.

Michael D. Sullivan, IRS tax specialist, is the one who gets you through the entire process. Having served for 10 years at the IRS and with over 42 years of experience in private practice, he knows full well how the IRS processes this form and what information is of real importance.

He provides guidance to taxpayers in filling out the form correctly, even before organizing the proof that the IRS will accept, and they all work together to push the case towards a fair tax resolution.

Contact Michael D. Sullivan today to discuss your case and choose the next proper step to confidently resolve your tax balance.

Frequently Asked Questions