Perovskite solar cells (PSCs) have gained tremendous research interest recently owing to several advantages, including low material cost, facile solution processability, bandgap tunability, and alluring device efficiency. The organic formamidinium (FA) cation‐based perovskites are mainly considered as one of the potential candidates for charge carrier generation due to their excellent properties, such as bandgap and thermal stability than traditional perovskites. However, the inevitable unfavorable polymorphism (i.e., α to δ) at room temperature still forms the basis for numerous research works to allow the fabrication of a high‐quality absorber and enhances the PSCs performance. The studies to resolve the polymorphism and several contemporary techniques (e.g., passivation strategy) with several recent novel fabrication methods presented in this review form the essence of the improvements in PSCs. The absorber morphology also influences the charge‐transfer behavior and the device's lifetime. Therefore, understanding these properties is essential to improve the absorber quality and avoid many defects. This review focuses on the structure and properties of pure and mixed FA perovskites with various halides, mainly the FA cation's role in the absorber composition. And a comprehensive overview of recent FA cation‐based double, triple, and quadrupole PSCs results with proper scientific explanations to understand the device physics.