Procedures for FATCA Certification Event of Default (EOD) Notices: Agreement Terminated Registration Status


If the entity's registration status is in Agreement Terminated status, it is because the IRS has identified an issue with your registration. Please review the entity's registration message board for any messages regarding why the registration status was changed to Agreement Terminated.

Entities that have their registrations terminated and Global Intermediary Identification Number (GIIN) removed from the Foreign Financial Institution (FFI) List due to non-compliance with the FATCA certification requirement must not re-register for a new GIIN in the FATCA Registration System. The IRS reviews all registrations and entities that are found to have re-registered for a new GIIN after being terminated will not maintain their "Approved" registration status.

The procedures below are for entities that have a FATCA registration account in Agreement Terminated status due to non-compliance with the FATCA certification requirement.

Registration Status: Agreement Terminated

An entity that has its registration terminated and GIIN removed from the FFI List due to non-compliance with the FATCA certification requirement should not re-register for a new GIIN in the FATCA Registration System.

If the entity requires the GIIN to be reinstated, it must contact the Foreign Payments Practice (FPP) by mail or email (information provided in the EOD notice on the FATCA registration message board) to make the request.

If the entity cannot access their FATCA registration account, the entity should reset their access code by clicking on the "Forgot FATCA ID or Access Code?" link from the FATCA registration log on page. If the entity is unable to reset the access code online, they may contact IRS telephone support. Telephone support is available 6:30 a.m. to 6:30 p.m. (U.S. Central Time), Monday through Friday at 866-255-0654 (toll-free, within the United States of America), or 512-416-7750 (outside the United States of America, not toll free).

The entity must:

  1. Make a written request for the GIIN to be reinstated.
  2. Submit the applicable qualified certification(s) through the online registration system.
  3. Provide detailed explanation why it was not compliant with its FATCA certification obligations within the certification submission.
    • If the entity is submitting a qualified certification and the only event of default is the failure to submit the required FATCA certification in a timely manner, respond to the statement "There were other event(s) of default that occurred during the certification period." by selecting "yes" and providing an explanation why the certification was submitted late and the actions taken to remediate the event of default and prevent the event from reoccurring.
    • If additional space is needed, the entity can provide a supplemental statement by email or mail to the address provided in the notice.
  4. Provide a remediation plan.
    • The remediation plan is to include an explanation of the event(s) of default, reason for the event(s) of default, steps that have or will be taken to remediate the event(s) of default and steps that have or will be taken to prevent such event(s) of defaults from occurring in the future.
    • In reviewing a remediation plan, the IRS will take into account an entity's good faith efforts to comply with all of the rules, regulations and requirements for Chapter 4 compliance. In general, repeated compliance failures are not indicative of good faith efforts and may lead to a reinstatement request being denied.
  5. Respond to IRS inquires in a comprehensive and timely manner, no later than 30 calendar days.
    • IRS inquires may include but are not limited to questions pertaining to the entity's governance, due diligence and reporting processes and procedures if not already provided with the remediation plan.

The entity will not appear on the FFI list until the information above is received, reviewed by the IRS, and a decision is made to approve reinstatement. The minimum review time will be one month upon receipt of the information, including any request for additional information by the IRS.

A decision on the reinstatement of the GIIN will be communicated to the entity. If the GIIN reinstatement request is approved by the IRS, the entity will receive a message on its message board.