FATCA Registration Resources and Support Information
ALERT: Updated Withholding Foreign Partnership (WP) and Withholding Foreign Trust (WT) Agreements have been released and posted to the FATCA Website. Both updated agreements are set out in Revenue Procedure 2014-47, which updates and supersedes the WP and WT Agreements originally released as Revenue Procedure 2003-64, 2003-2 C.B. 306.
Revenue Procedure 2014-13 – Final FFI Agreement is Now Available for FFI Agreement for Participating FFI and Reporting Model 2 FFI.
For the period from the opening of the FATCA registration website through December 31, 2013, a financial institution (FI) will be able to access its online account to modify or add registration information.
Prior to January 1, 2014, any information entered into the system, even if submitted as final by the website user, will not be regarded as a final submission, but will merely be stored until the information is submitted as final on or after January 1, 2014.
FIs can use the remainder of 2013 to become familiar with the FATCA registration website, to input preliminary information, and to refine that information. On or after January 1, 2014, each FI will be expected to finalize its registration information by logging into its online account on the FATCA registration website, making any necessary additional changes, and submitting the information as final.
As registrations are finalized and approved in 2014, registering FIs will receive a notice of registration acceptance and will be issued a global intermediary identification number (GIIN).
The IRS will electronically post the first IRS Foreign Financial Institution (FFI) List by June 2, 2014, and will update the list on a monthly basis thereafter. Based on the IRS experience with the registration system and GIIN generation process to date, the IRS now believes that it can ensure registering FFIs that their GIINs will be included on the June 2 IRS FFI List if their registrations are finalized by May 5, 2014 (GMT -5), rather than April 25, 2014, as originally announced. Further, the IRS believes it can ensure registering FFIs that their GIINs will be included on the July 1 IRS FFI List if their registrations are finalized by June 3, 2014 (GMT -5).
Below find a link to instructions, user guide and other materials to assist you and your financial institution with FATCA registration:
|FATCA Registration Overview (PDF)|
|FATCA Registration Online User Guide|
|When minor updates are made the Registration System, an update to the User Guide will be issued as an addendum. These will identify and provide updates to sections in the User Guide. Users should reference both documents.|
|Tips for Logging into the FATCA Registration System|
|Global Intermediary Identification Number (GIIN) Composition (PDF)|
|FFI List Resources|
|FATCA Frequently Asked Questions (FAQs)|
“How-to” videos to assist financial institutions with FATCA registration:
(Note: There may be slight differences between the videos and the screens in the FATCA Registration System due to system upgrades).