FFI in jurisdiction with agreed-in-substance IGA. Pursuant to Announcement 2014-38, an FFI resident in, or organized under the laws of, or a branch located in, a jurisdiction that is listed on the Treasury website as having reached an agreement in substance will be permitted to register on the FATCA registration website consistent with its treatment under the relevant Model IGA. If a jurisdiction is removed from this list, FFIs that have registered for a status under the removed IGA will no longer be entitled to that status and will be required to update their status on the FATCA registration website accordingly.
Direct Reporting NFFE. A Direct Reporting NFFE may register using Form 8957 (or on the FATCA registration website) by following the instructions for FIs, except as otherwise indicated.
Sponsored Entities. A Sponsored Entity must be registered by its Sponsoring Entity on the FATCA registration website. Beginning on January 1, 2017, a Sponsored Entity will be required to provide its own GIIN (rather than the GIIN of its Sponsoring Entity) to withholding agents. See Sponsored Entities under Special Rules,later.
New lines 3b, 13a, and 13b. These three new lines request the following information. Line 3b requests the FI’s country/jurisdiction tax ID. Line 13a asks whether the FI is the Common Parent Entity of the Expanded Affiliated Group. If the FI is not the Common Parent Entity of the Expanded Affiliated Group, the FI should enter the legal name and FATCA ID of the Common Parent Entity on line 13b. See the Specific Instructions for these new lines, later.
In the future, additional information about the registration process may be posted at www.irs.gov/fatca.
|More Online Instructions|