While LPChip's answer is 'correct' and should work in most cases unless the partition is over 32gb. I typically use a bit of third party software from ridgecrop that does the same thing but handles larger partitions. I've used their command line fat32formatter extensively over the past few years.

They have a GUI tool that more or less does what it says on the tin now. Formatting speeds are crazy fast and I've not had any issues with it.