Instructions for Form 8957 - Introductory Material


Table of Contents

What's New

Delayed implementation date ofFATCA.   Notice 2013-43 provides a revised timeline and other guidance regarding the implementation of FATCA and an extension of the time for Qualified Intermediaries, Withholding Foreign Partnerships and Withholding Foreign Trusts to renew expiring agreements. The Notice may be found at www.irs.gov/fatca.

Instructions to Form 8957.   Please read the instructions to Form 8957, FATCA Registration, thoroughly before you begin to complete the registration form, as they provide needed details on how to answer each question on the Form. FIs should not mail the paper form to the IRS service center identified below before January 1, 2014. The IRS will not be in a position to accept and process these forms before that date.

Online Registration.   Instead of using the paper Form 8957 to submit your FATCA registration, financial institutions (FIs) are encouraged to register electronically via the FATCA registration website. The FATCA registration website is a secure system that enables FIs to register online from anywhere in the world without the need to print, complete, and mail paper forms. The website is projected to be accessible to FIs on August 19, 2013, at the following address: www.irs.gov/fatca.

  For the period from the opening of the FATCA registration website through December 31, 2013, an FI will be able to access its online account to modify or add registration information, including its appropriate registration status as such status is established or modified, for example, by the signing of an intergovernmental agreement (IGA). Prior to January 1, 2014, however, 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. Thus, 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.

GIINs.   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 FFI List by June 2, 2014, and will update the list on a monthly basis thereafter. To ensure inclusion in the June 2014 IRS FFI List, an FI will need to finalize its registration by April 25, 2014.

Future Developments

In the future, additional information about the registration process may be posted at www.irs.gov/fatca. For example, at the appropriate time, information on how a sponsoring entity can register a sponsored financial institution will be available at this web address.


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