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FATCA Information for U.S. Financial Institutions and Entities

  • U.S. financial institutions (USFIs) and other types of U.S. withholding agents are required to withhold 30% on certain U.S. source payments made to foreign entities, if they are unable to document such entities for purposes of FATCA.
  • USFIs and U.S. withholding agents must also report to the IRS information about certain non-financial foreign entities with substantial U.S. owners.
  • USFIs are also eligible to submit a FATCA Registration application via the FATCA Registration Website for the following reasons:
  • A USFI with a foreign branch in a Model 1 IGA jurisdiction to obtain a GIIN for the branch.
  • A USFI with a foreign branch that is a qualifying intermediary (QI) to renew the branch’s QI agreement.
  • A USFI may register as a sponsoring entity for FFIs and agree to perform, on behalf of the FFI, all the FATCA activities that the FFI otherwise would have to do.
  • A USFI may register as a Lead FI to manage the FATCA registration process for members of its Expanded Affiliated Group of FFIs.



Page Last Reviewed or Updated: 29-May-2015