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How should I fill net worth column?

Foreign Account Tax Compliance Act (FATCA) makes it compulsory for financial institutions in the world to report to the US government comprehensive details of all transactions involving 'US persons'

Recently mutual funds have started sending emails to investors to submit their FACTA and additional KYC information with them. I would like to know why is this done? Also, what should we put in the net worth column in FACTA form? Is net worth nothing but cash savings we have currently in the bank savings /FD/ RD or it includes movable and immovable assets as well?
- Rajagopal Krishnamoorthy

The additional information is for complying with some new law/development abroad. For example,Foreign Account Tax Compliance Act (FATCA) makes it compulsory for financial institutions in the world to report to the US government comprehensive details of all transactions involving 'US persons'. Under Common Reporting Standard (CRS) on Automatic Exchange of Information (AEOI) the G20 and the OECD countries have agreed to exchange information on taxpayers. The additional KYC is for our own authorities.

Net worth is not cash savings in your bank account. Simply put, net worth is the difference between assets and liabilities of a person. You have to draw up a list of your assets first and find total value of your assets. Then you have subtract your liabilities from it to find out your net worth.

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