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YouTube video text script - FATCA Registration-Managing Sponsored Entities and Sponsored Subsidiary Branches

WELCOME TO THE IRS FOREIGN ACCOUNT TAX COMPLIANCE ACT, OR FATCA, ONLINE REGISTRATION VIDEO SERIES.

THIS VIDEO SHOWS SPONSORING ENTITY FINANCIAL INSTITUTIONS, OR FIs, AS WELL AS DIRECT-REPORTING NON-FINANCIAL FOREIGN ENTITIES, OR NFFES, THE OPTIONS THEY HAVE TO MANAGE SPONSORED ENTITIES, INCLUDING HOW TO ADD, VIEW, EDIT AND DOWNLOAD SPONSORED ENTITIES AND SPONSORED SUBSIDIARY BRANCHES.

AS A SPONSORING ENTITY FI, WHEN YOU ARE IN "APPROVED" STATUS, YOU WILL SEE A "MANAGE SPONSORED ENTITIES" LINK UNDER THE "YOUR INFORMATION" SECTION OF THE HOME PAGE.

TO VIEW, EDIT OR ADD SPONSORED ENTITIES, CLICK ON THE "MANAGE SPONSORED ENTITIES" LINK.

THERE ARE TWO WAYS TO ADD SPONSORED ENTITIES TO A SPONSORING ENTITY FI'S ACCOUNT.

ADDING SPONSORED ENTITIES INDIVIDUALLY OR UPLOADING A FILE WITH MULTIPLE SPONSORED ENTITIES.

THIS VIDEO ONLY COVERS ADDING SPONSORED ENTITIES INDIVIDUALLY.

TO ADD SPONSORED ENTITIES INDIVIDUALLY, CLICK ON THE "ADD AN INDIVIDUAL SPONSORED ENTITY" LINK UNDER "SINGLE SPONSORED ENTITY MAINTENANCE."

ENTER THE LEGAL NAME OF THE SPONSORED ENTITY IN THE LEGAL NAME OF THE SPONSORED ENTITY FIELD.

SELECT THE SPONSORED ENTITY'S COUNTRY OR JURISDICTION.  

THEN, SELECT THE SPONSORED ENTITY'S FATCA CLASSIFICATION.

FOR MORE INFORMATION ON THE FATCA CLASSIFICATIONS, CLICK ON THE QUESTION MARK ICON NEXT TO THE FIELD NAME.

CLICK "SUBMIT" TO ADD THE SPONSORED ENTITY.

IF YOU SELECTED THE "SPONSORED SUBSIDIARY" CLASSIFICATION, YOU WILL BE TAKEN TO THE "MANAGE SPONSORED SUBSIDIARY BRANCHES" PAGE.

IF YOU SELECT ANY OTHER CLASSIFICATION, YOU WILL BE TAKEN BACK TO THE "MANAGE SPONSORED ENTITIES" PAGE.

THE NEWLY ADDED SPONSORED ENTITY WILL APPEAR ON A TABLE, ALONG WITH ITS ASSIGNED SPONSORED ENTITY ID, WHICH IS MADE UP OF THE FATCA ID OF THE SPONSORING ENTITY, FOLLOWED BY A PERIOD AND A SEQUENTIAL NUMBER.

THE SPONSORED ENTITY ID WILL BE THE FIRST PART OF THE SPONSORED ENTITY'S GLOBAL INTERMEDIARY IDENTIFICATION NUMBER, OR GIIN, WHICH THE SPONSORED ENTITY WILL RECEIVE UPON APPROVAL.

NOTE THAT THE SPONSORED ENTITY ID CANNOT BE USED TO LOG INTO THE FATCA ONLINE REGISTRATION SYSTEM.

NOW LET'S TAKE A LOOK AT HOW WE ADD SPONSORED SUBSIDIARY BRANCHES.

ONCE AGAIN, ENTER THE LEGAL NAME OF THE SPONSORED ENTITY IN THE "LEGAL NAME OF THE SPONSORED ENTITY" FIELD.

SELECT THE SPONSORED ENTITY'S COUNTRY OR JURISDICTION.

THEN, SELECT THE SPONSORED ENTITY'S FATCA CLASSIFICATION AS "SPONSORED SUBSIDIARY."

BRANCHES CAN ONLY BE ADDED TO SPONSORED ENTITIES WITH THE "SPONSORED SUBSIDIARY" CLASSIFICATION.

CLICK "SUBMIT" TO ADD THE SPONSORED ENTITY.

SINCE YOU SELECTED THE "SPONSORED SUBSIDIARY" CLASSIFICATION, YOU WILL BE TAKEN TO THE "MANAGE SPONSORED SUBSIDIARY BRANCHES" PAGE.

TO ADD A SPONSORED SUBSIDIARY BRANCH, SELECT THE BRANCH'S COUNTRY OR JURISDICTION, THEN CLICK ON THE "ADD ANOTHER" BUTTON.

THE SPONSORED SUBSIDIARY BRANCH INFORMATION TABLE BELOW WILL DISPLAY THE BRANCH YOU JUST ADDED.

SEPARATELY IDENTIFY EACH JURISDICTION WHERE THE SPONSORED SUBSIDIARY MAINTAINS A BRANCH.

YOU CAN ONLY ADD ONE BRANCH PER COUNTRY OR JURISDICTION.  

CONTINUE TO ADD BRANCHES UNTIL YOU HAVE ADDED ALL THE SPONSORED SUBSIDIARY BRANCHES FOR THIS SPONSORED ENTITY.

ALL SPONSORED SUBSIDIARY BRANCHES WILL BE DISPLAYED IN THE TABLE BELOW IN ALPHABETICAL ORDER OF COUNTRY OR JURISDICTION.

THE SPONSORED SUBSIDIARY BRANCHES' GIINs WILL BE DISPLAYED IN THIS TABLE WHEN THEY HAVE BEEN APPROVED.

TO REMOVE A SPONSORED SUBSIDIARY BRANCH, CLICK ON THE "DELETE" LINK NEXT TO THE CORRESPONDING ENTRY IN THE TABLE.

TO DOWNLOAD A LIST OF SPONSORED SUBSIDIARY BRANCHES FOR THIS SPONSORED ENTITY, CLICK ON THE DOWNLOAD COMPLETE SPONSORED SUBSIDIARY BRANCH LIST IN EITHER PDF OR CSV FORMAT.

THE DOWNLOAD COMPLETE SPONSORED SUBSIDIARY BRANCH LIST LINKS WILL NOT DISPLAY ON THE PAGE UNTIL AT LEAST ONE SPONSORED SUBSIDIARY BRANCH IS ADDED.

CLICK ON THE "BACK TO MANAGE SPONSORED ENTITIES" BUTTON TO RETURN TO THE MANAGE SPONSORED ENTITIES PAGE.

ALL SPONSORED ENTITIES ADDED TO THE SPONSORING ENTITY FI'S ACCOUNT ARE DISPLAYED IN THE SPONSORED ENTITIES TABLE, WHICH INCLUDES LEGAL NAME, COUNTRY OR JURISDICTION, CLASSIFICATION, SPONSORED ENTITY ID, STATUS, GIIN, EFFECTIVE DATE AND AVAILABLE ACTIONS TO MANAGE EACH SPONSORED ENTITY.  

THE TOTAL NUMBER OF SPONSORED ENTITIES ADDED TO THE SPONSORING ENTITY FI'S ACCOUNT IS DISPLAYED ABOVE THE TABLE.

THE MAXIMUM NUMBER OF SPONSORED ENTITIES THAT CAN BE ADDED TO THIS TABLE IS FIVE THOUSAND.

THE TABLE DISPLAYS UP TO TEN SPONSORED ENTITIES AT A TIME.

IF THERE ARE MORE THAN TEN, PAGE NUMBERS WILL APPEAR, WHICH YOU CAN CLICK, TO SEE THE NEXT TEN ENTRIES.

YOU MAY DOWNLOAD THE COMPLETE LIST OF SPONSORED ENTITIES IN PDF OR CSV FORMAT BY CLICKING ON THE DOWNLOAD LINKS.

ADDITIONAL ACTIONS ARE AVAILABLE TO EDIT AND DELETE SPONSORED ENTITIES WHEN THE SPONSORED ENTITY IS IN "SUBMITTED" OR "APPROVED" STATUS.

YOU CAN ADD OR EDIT SPONSORED SUBSIDIARY BRANCHES BY CLICKING ON THE "BRANCHES" LINK NEXT TO THE SPONSORED ENTITY.

NOTE THAT THIS LINK IS ONLY AVAILABLE WHEN THE SPONSORED ENTITY IS IN SUBMITTED OR APPROVED STATUS.

TO EDIT A SPONSORED ENTITY, CLICK ON THE EDIT LINK NEXT TO THE SPONSORED ENTITY.

ONLY THE SPONSORED ENTITY'S LEGAL NAME CAN BE EDITED.

ENTER THE NEW LEGAL NAME IN THE "LEGAL NAME OF THE SPONSORED ENTITY" FIELD.

YOU CANNOT EDIT THE COUNTRY OR JURISDICTION, OR THE CLASSIFICATION OF A SPONSORED ENTITY.

IF YOU NEED TO CHANGE THIS INFORMATION, THE SPONSORED ENTITY MUST BE DELETED THEN ADDED AGAIN WITH THE NEW COUNTRY OR JURISDICTION,
AND CLASSIFICATION.

CLICK SUBMIT TO SAVE THE CHANGES AND RETURN TO THE "MANAGE SPONSORED ENTITIES" PAGE.

TO DELETE A SPONSORED ENTITY, CLICK ON THE DELETE LINK.

A POP-UP WINDOW WILL ASK YOU TO CONFIRM IF YOU WANT TO DELETE THE SPONSORED ENTITY.

WHEN YOU CLICK OK, THE SPONSORED ENTITY AND ITS SPONSORED SUBSIDIARY BRANCHES, IF APPLICABLE, WILL BE DELETED FROM THE SPONSORING ENTITY FI'S
ACCOUNT.

WHEN DELETING A SPONSORED ENTITY, THE SPONSORED ENTITY AND ITS SPONSORED SUBSIDIARY BRANCHES WILL NO LONGER BE INCLUDED ON THE IRS
FFI LIST.

YOU CAN FIND MORE INFORMATION CONCERNING FATCA ONLINE REGISTRATION AT IRS.GOV/FATCA-REGISTRATION.