FATCA - FAQs general

A DE in a Model 1 IGA jurisdiction must register as an entity separate from its owner in order to be treated as a reporting Model 1 FFI, provided that the DE is treated as a separate entity for purposes of its reporting to the applicable Model 1 jurisdiction. Select either a “Single” FFI or “Member” FFI in Part 1, Question 1 of the FATCA Registration (as appropriate). Select “Registered Deemed-Compliant Financial Institution (including a Reporting Financial Institution under a Model 1 IGA)” in Part 1, Question 4. When the owner of the DE registers on its own behalf, it should not report the DE as a branch.

In general, a branch (as defined in Treas. Reg. § 1.1471-4(e)(2)(ii)) must be registered as a branch of its owner and not as a separate entity. Thus, the branch will be registered by the FI of which the branch is a part (including an appropriate lead FI or Sponsoring Entity) when the FI completes Part 1 of its own FATCA registration. The online registration user guide provides further instructions on how to register branches. In general, a branch is a unit, business, or office of an FFI that is treated as a branch under the regulatory regime of a country or is otherwise regulated under the laws of such country as separate from other offices, units, or branches of the FI.

Q2 has been updated to clarify that, unless a specified exception applies, a branch must register as a branch of its owner and not as a separate entity.

A branch (including a DE) that is in a Model 2 IGA jurisdiction, or a jurisdiction without an IGA, must be registered as a branch of its owner (rather than as a separate entity). As such, the branch will be registered by the FI of which the branch is a part (including an appropriate Lead FI or Sponsoring Entity) when that FI completes Part 1 of its own FATCA registration. The branch will not have a separate registration account, but will be assigned a separate GIIN, if eligible. When the FI completes its FATCA registration and registers its branches by answering Questions 7, 8, and 9, GIINs will be assigned with respect to the registered branches, where appropriate. The online registration user guide provides further instructions on how to register branches. A separate GIIN will be issued to the FI to identify each jurisdiction where it maintains a branch that is participating or registered deemed-compliant.

All branches (and, except in Model 1 IGA jurisdictions, disregarded entities) of an FI located in a single jurisdiction are treated as one branch and, as a result, will share a single GIIN. U.S. branches and limited branches are not eligible to receive their own GIINs. A branch of an FFI located in the FFI’s home country will use the GIIN of the FFI. For example, suppose FI W (located in Country X) has one branch in Country X, two branches in Country Y and owns a DE in Country Z. Country Z is a Model 1 IGA jurisdiction. FI W will receive a Country X GIIN. FI W’s Country X branch will use W’s GIIN. The two branches in Country Y will be treated as a single branch, and so FI W will be issued a single Country Y GIIN for these two branches to share. The Country Z DE will register as an entity separate from its owner, in order to be treated as a reporting Model 1 FFI, and will receive its own GIIN.

Q3 has been updated to clarify that, unless a specified exception applies, a branch must register as a branch of its owner and not as a separate entity.

To locate a branch on the FFI list, you search using the financial institution name followed by the phrase “ – branch.” There must be a space between the financial institution name and the dash and a space between the dash and the word branch.

A branch that has incorrectly registered separately from the FI that maintains such branch rather than as part of the FI’s registration is required to cancel its separate registration and the FI must revise its own registration to include such branch by the end of the 2015 calendar year. See the FACTA Online Registration User Guide for instructions on deleting a FATCA registration. For example, a branch that is in a Model 2 IGA jurisdiction, or a jurisdiction without an IGA, must be registered as a branch of its owner and therefore must correct its registration if it has registered as a separate entity. An FI revising its registration to include its branch should provide updated documentation to withholding agents and to foreign financial institutions required to document the status of an account held by the branch of the FI under chapter 4 or an applicable Model 1 or Model 2 IGA (including, as applicable, the GIIN of the FI applicable to its country of residency and the new GIIN of the branch). See the Instructions for Form W-8BEN-E, Part II.

A withholding agent that knows or has reason to know that a Form W-8BEN-E has been provided by a branch of an FI that has incorrectly registered as a separate entity may rely on such form (if otherwise valid) for payments made by the end of the 2015 calendar year. Thus, the withholding agent should not withhold on payments to the branch made before such date solely because the branch has incorrectly registered on the IRS Portal.

Q5 has been added to instruct branches registered as separate entities on how to correct their registration.

You will generally be exempt from FATCA Registration and withholding if you meet the requirements to be treated as an exempt beneficial owner (e.g. as a foreign central bank of issue described in Treas. Reg. § 1.1471-6(d), as a controlled entity of a foreign government under Treas. Reg. §1.1471-6(b)(2), or as an entity treated as either of the foregoing under an applicable IGA). A withholding agent is not required to withhold on a withholdable payment to the extent that the withholding agent can reliably associate the payment with documentation to determine the portion of the payment that is allocable to an exempt beneficial owner in accordance with the regulations. However, an exempt beneficial owner may be subject to withholding on payments derived from the type of commercial activity described in Treas. Reg. § 1.1471-6(h).

You will be exempt from FATCA Registration and withholding if you meet the requirements to be treated as a retirement fund described in Treas. Reg. § 1.1471-6(f), or under an applicable IGA. A withholding agent is not required to withhold on a withholdable payment to the extent that the withholding agent can reliably associate the payment with documentation to determine the portion of the payment that is allocable to an exempt beneficial owner (in this case, a retirement fund) in accordance with the regulations.

Yes. An EAG may organize itself into subgroups, so long as all entities with a registration requirement are registered. An FI that acts as a Compliance FI for any members of the EAG is, however, required to register each such member as would a Lead FI for such members.

A Lead FI means a USFI, FFI, or a Compliance FI that will initiate the FATCA Registration process for each of its Member FIs that is a PFFI, RDCFFI, or Limited FFI and that is authorized to carry out most aspects of its Members’ FATCA Registrations. A Lead FI is not required to act as a Lead FI for all Member FIs within an EAG. Thus, an EAG may include more than one Lead FI that will carry out FATCA Registration for a group of its Member FIs. A Lead FI will be provided the rights to manage the online account for its Member FIs. However, an FFI seeking to act as a Lead FI cannot have Limited FFI status in its country of residence. See Rev. Proc. 2014-38 to review the revised FFI agreement for other requirements of a Lead FI that is also a participating FFI.

No, a Member FI can only register after its Lead FI has registered. When the Member FI does register, it should indicate in Part 1, line 1, that it is a member of an expanded affiliated group.

In Part 2 of the Lead FI’s registration, the Lead FI will add basic identifying information for each Member, and the system will create the Member FATCA accounts. Each Member FI will then be required to log into the system and complete its registration.

Yes. A limited FFI (regardless of whether it is a member of an Expanded Affiliated Group) must identify itself to withholding agents as a nonparticipating FFI and, as a result, is subject to Chapter 4 withholding. Thus, while limited FFIs are generally required to register, they will not be issued GIINs.

A FATCA certification consists of one or more series of questions that the responsible officers of certain entities must answer and submit to the IRS to confirm the entities’ compliance with the requirements of FATCA. There are two general types of certifications: one that relates to an entity’s preexisting accounts (COPA) and another that relates to the entity’s compliance with various FATCA requirements (periodic certification).

For more information on FATCA certification requirements, see Treas. Reg. §§1.1471-4(c)(7), 1.1471-5(f)(1)(i)(A)(7) and (D)(6), and Prop. Reg. §1.1471-5(j)(5) relating to the COPA; Treas. Reg. §§1.1471-4(f)(3), 1.1471-5(f)(1)(ii)(B), 1.1472-1(c)(3)(vi), and Prop. Reg. §§ 1.1471-5(j)(3) and (l)(2)(iv) and 1.1472-1(f)(2)(iv) relating to the periodic certification; and Treas. Reg. §1.1471-4(f)(2)(ii)(B) relating to a consolidated compliance program.

The answer generally depends on your FATCA classification. Not all entities are required to submit either or both types of certifications. The table below provides a general overview of the types of entities that are required to certify and which certification(s) they must submit. For more specific guidance, see Section 8 of Revenue Procedure 2017-16, the Treasury regulations, or an applicable intergovernmental agreement (IGA).

** A participating FFI that is an electing FFI of a consolidated compliance group will be included in the certification of the compliance FI.

*** A periodic certification of compliance is required only for a Trustee-Documented Trust that is subject to a Model 2 IGA.

Note: The registration system will suggest the certification(s) for an entity based on its FATCA classification in question 4 of the registration system. Therefore, even entities that do not have a certification requirement should update their FATCA classification to avoid inapplicable certification-related notices in the future.

All responsible officers (ROs) must have access to the entity’s account in the FATCA registration system (including the entity’s FATCA ID and password). If you need login assistance, you can select “Forgot FATCA ID or Access Code” from the Financial Institution Account User Login Homepage.

If you are the RO of a compliance FI, sponsoring entity, trustee of a trustee-documented trust, or lead of an expanded affiliated group (EAG) of registered deemed-compliant FFIs that is certifying collectively on behalf of the EAG, you must determine on behalf of which entities you will be certifying and ensure that those entities are properly registered (to the extent applicable) for you to be able to certify on behalf of them.

All ROs should review the Draft FATCA Certifications that apply to the RO’s entity to give themselves sufficient time to gather any necessary information and confirm that certain actions were taken (for example, the completion of a periodic review, if necessary).

FATCA certifications must be made online through the FATCA registration system. A link for each applicable certification (that is, one for COPA (if required) and one for periodic certification) will be available on the entity’s home page.

At the same time the FATCA registration system is updated to include links to the FATCA certifications, question 4 of Part 1 will be updated to request more specific information about the entity’s FATCA classification. Every entity for which a certification is required will be required to update their response to question 4 as part of the certification. For more information, see Registration Update question 14.

All certifications will ask the responsible officer (RO) to review and update (if necessary) his or her identifying information, complete a series of introductory questions, select the applicable certification option the RO is submitting, and answer a series of certification questions.

The FATCA Online Registration User Guide will be updated to provide step-by-step instructions for navigating the certifications. Refer to the Draft FATCA Certifications for a preview of the questions that will be asked as part of each certification.

See Overview of FATCA Certification Process for more information on the FATCA certification process.

Note: If you are the RO of an entity that is required to certify, but the certification link does not appear on your home page, please contact the IRS eHelp Desk for assistance.

Most entities with a certification link on their home page will be required to complete the certification. The third option may apply, for example, when a sponsoring entity is not required to certify because it only has sponsored FFIs subject to a Model 1 IGA jurisdiction, or, with respect to the COPA, the sponsoring entity has only late-joining sponsored FFIs or FFIs that have already submitted their required COPA. Therefore, it is anticipated that most filers will select one of the first two options. Also note that, by indicating that you are unable to complete the certification (second option), you are indicating that the entity is not compliant with its FATCA obligations. ROs are encouraged to utilize all of the time provided to complete the certification, rather than not certify because they have not completed certain necessary activities (for example, a periodic review).

Yes, all displayed questions are mandatory, including text boxes. Therefore, if a question is displayed in the certification system, it must be answered. If a question may be inapplicable, “Not applicable” will be provided as an option for your answer. For text boxes, at least one character must be entered in each text box.

A certification cannot be edited once it is submitted. Prior to the deadline for submitting a certification (COPA or periodic certification), you may submit additional certifications with the corrected information by taking the same steps for completing the original certification (that is, click on the appropriate link on your home page and complete the questions). You will need to complete the entire certification again. That is, you cannot selectively change a particular response (although certain responses will be prepopulated based on your prior certification; these prepopulated responses can be edited). Before the certification is submitted, a notification will ask you whether you would like to submit an additional certification. Generally, submitting an additional COPA or periodic certification will supersede the previously submitted COPA or periodic certification. However, all submitted certifications are saved in the registration system.

• COPA or periodic certification by a compliance FI (Filer) on behalf of all electing FFIs (Entities).
• Periodic certification by a registered deemed-compliant FFI (Filer) collectively on behalf of the registered deemed-compliant FFI members of the Filer’s expanded affiliated group (Entities).
• Periodic certification by a trustee on behalf of more than one trustee-documented trust.
• COPA or periodic certification by a sponsoring entity (Sponsor) on behalf of sponsored entities.

Compliance FIs and Certain Registered Deemed-Compliant FFIs

In the first two circumstances above, the RO of the Filer must be registered as a Lead and must register all Entities as members of the Filer’s expanded affiliated group (EAG). The RO will be allowed to certify only on behalf of Entities that are registered as members of the Filer’s EAG.

Once properly registered, the RO can submit the certification by clicking on the link on the Filer’s home page. The RO will be allowed to select the Entities that are included in the certification. Only eligible members will appear on the list of possible Entities for which the Filer can certify. Eligibility is determined by registration status and effective date of the member’s registration. For example, a member with an effective date after December 31, 2017, is not eligible to be part of the certification due for the period ending December 31, 2017.

For a Filer that is collectively certifying on behalf of different types of registered deemed-complaint FFIs (e.g., you are certifying for both local FFIs and restricted funds), you must submit a separate collective certification for each type of registered deemed-compliant FFI.

Note: If the Filer has registered members on behalf of which it is not certifying, those members may be required to certify on behalf of themselves.

Trustees of Trustee-Documented Trusts and Sponsoring Entities

In the third circumstance above, the RO of the trustee of the trustee-documented trust must be registered as a Sponsoring Entity. The trustee’s FATCA classification, however, should be “Trustee of a Trustee-Documented Trust” in order for the registration system to suggest the correct periodic certification. Note that a periodic certification of compliance is required only if the trustee had any trustee-documented trust subject to a Model 2 IGA. The RO of the trustee must provide the name and country/jurisdiction of each trustee-documented trust subject to a Model 2 IGA that is included in the certification.

In the fourth circumstance above, the RO of the Sponsor must register each sponsored entity on behalf of which the Sponsor acts as a sponsoring entity. The RO will be allowed to select the sponsored entities that are included in the certification. The system will display a list of sponsored entities based on the registration. The sponsoring entity must select all of the sponsored entities to be included in the certification, and include any sponsored entities that are not required to be registered (for example, sponsored, closely held investment vehicles) for which the RO is certifying. If any of the sponsored entities displayed are not selected, the Responsible Officer (RO) completing the certification will need to provide a brief explanation as to why the entity (or entities) was not selected to be included in the certification.

A Sponsor may be the sponsoring entity of sponsored FFIs, the sponsoring entity of sponsored direct reporting NFFEs, or the sponsoring entity of both sponsored FFIs and sponsored direct reporting NFFEs. The Sponsor must update its FATCA classification to reflect which of the three types of sponsoring entity it is before it can complete a certification, because the type of sponsoring entity will determine which certification questions the Sponsor must complete and submit.

For a periodic certification submitted by a participating FFI (including a Reporting Financial Institution under a Model 2 IGA) (PFFI), compliance FI, or sponsoring entity of sponsored FFIs, based on the answers to the certification questions, the RO will make either a certification of effective internal controls or a qualified certification. In general, a certification of effective internal controls means that the entity did not have any material failures or events of default, or if there was a material failure, that the entity remediated such failure before the certification was submitted and has taken action to prevent such failure from reoccurring. On the other hand, a qualified certification generally means the entity has identified material failures or events of default that have yet to be remediated, however, that appropriate actions will be taken to prevent such failures from reoccurring. By making a qualified certification, the entity agrees to respond to any notice of default (if applicable) and will provide to the IRS a description of each material failure and a written plan to correct each such failure (if requested).

Note: Similarly, based on the RO’s answers to the certification questions, a PFFI, compliance FI, or sponsoring entity of sponsored FFIs may submit a COPA either by making all required certifications or by making a qualified certification stating that the RO will take corrective actions.

A registered deemed-compliant FFI in a Model 2 IGA jurisdiction must certify to the extent required by the terms of the Annex II of the applicable Model 2 IGA or to the extent required in the Treasury regulations if the entity’s status as a registered deemed-compliant FFI is based on the regulations rather than the Annex II. For example, the Annex II of the Model 2 IGA does not include “restricted funds”; therefore, any entity located in a Model 2 IGA jurisdiction that is registered as a registered deemed-compliant FFI because it is a restricted fund must certify as required by the Treasury regulations.

In some cases, the Annex II of the applicable Model 2 IGA includes categories of registered deemed-compliant FFIs that do not exactly match the categories of registered deemed-compliant FFIs in the Treasury regulations on which the certifications are based. In these cases, the Model 2 FFI should select the certification for the registered deemed-compliant FFI category that most closely matches the category in Annex II of the applicable IGA for which the FFI qualifies. For example, the Treasury regulations use the term “Local FFI,” while the Annex II of the Model 2 IGA uses the term “Registered Financial Institution with a Local Client Base,” so in this case, the Registered Financial Institution with a Local Client Base should complete the certification for a Local FFI.

If an entity that is required to certify does not submit its certification(s) by the due date, the entity will not be in compliance with its obligations under FATCA. The consequences of being non-compliant may include the revocation of an entity’s FATCA status and, ultimately, the entity’s GIIN being removed from the FFI list.

For the certification period ending December 31, 2017, FATCA certifications are generally due no later than December 15, 2018; however, for sponsoring entities and trustees of a trustee-documented trusts, they are due no later than March 31, 2019.

When the “Not applicable” option is available as a response to a certification question, you can select it to indicate that the question does not apply to the entity. On the other hand, selecting “No” in response to a question indicates that the question applies to the entity, however, the answer to the question is a negative/”no.”

For example, where the question states “[w]ith respect to any failure to withhold, deposit, or report to the extent required under the FFI agreement, the participating FFI has corrected such failure by paying any taxes due (including interest and penalties) and filing the appropriate (or amended return)”, your response should be:

• “Yes” if you have identified such failure(s) and have corrected it as stated in the question;
• “No” if you have identified such failure(s) but have not corrected it as stated in the question; or
• “Not Applicable” if you don’t have any failures as stated in the question, and therefore the question is not applicable to you.

The certification system was designed to refresh an entity's list of applicable members and sponsored entities when resuming a previously saved certification. This ensures that the most updated list is reflected and that it contains all applicable members and sponsored entities.

Prior to saving a certification that you cannot complete in the initial session, you will be required to select at least one member or sponsored entity from your list to ensure you can proceed to the certification questions. You may save your certification any time after that. However, only the responses provided to the certification questions will be saved. Your selection from the member or sponsored entity list will not be saved until you complete and submit the certification as noted in the steps below.

When you resume a certification that you previously saved, and you are ready to complete and submit the certification, you should:

1. Press the "back" button to return to the list of members/sponsored entities;
2. Make your final selection of all applicable members/sponsored entities to be included in the certification;
3. Proceed to the certification questions by clicking on the "next" button and ensuring all questions are completed until you get to the "certification submission" screen;
4. Finally, submit your certification.

The submitted certification will include the responses to all the questions along with your selections from the applicable member/sponsored entity list.

Under section 12.10 of the FFI agreement (“the agreement”), a participating FFI must provide to the IRS a final certification of compliance upon termination of the FFI agreement as described in section 8.03(B) of the agreement, covering the period from the end of the most recent certification period (or, if the first certification period has not ended, the effective date of the FFI agreement) to the date of termination (the “short certification period”), regardless of whether a periodic review has been completed for such period. This final certification for the short certification period must be submitted within six months of the date of termination.

If you terminated your FFI agreement on or after July 22, 2018 and have a certification obligation, you are required to submit a final certification. Upon cancelling your account in the FATCA registration system, you will receive a message reminding you of your certification obligation. The final certification must be completed within 6 months of the cancellation. Your FATCA ID and Access Code will remain active during this time.

To submit the final certification after cancelling the FFI agreement:

1. Select the appropriate certification link in the account options of your home page.
2. A warning will appear to confirm that you want to submit an additional certification. Select “Yes” to submit the final certification.
3. The system will then suggest a certification type and certification period based on your registration, current FATCA classification and country/jurisdiction of tax residence. You must select “No” if you need to change the suggested certification period or complete a different certification type.

Note: As you are submitting a final certification that may cover a short certification period, ensure that the certification period reflects the correct certification beginning and end date for the period or short certification period (as applicable).

When submitting a certification for the entity, all approved branches at the time of submission are automatically included in your certification. You are not able to certify only for selected branches. The IRS, however, recognizes that the certification submission is only intended for branches with a certification requirement, specifically, approved branches maintained by the entity which are not located in a Model 1 Intergovernmental Agreement (IGA) jurisdiction.

If there is a material failure or event of default that is applicable only to a specific branch (or branches), you should note that in the applicable text box by listing the jurisdiction, legal name and the Global Intermediary Identification Number (GIIN) of the branch (branches) to which the material failure and/or event of default relates. If the entity itself has a material failure or event of default, that fact also should be noted in the applicable text box.

We are aware that the system does not currently display any closed/terminated Sponsored Entities in the Sponsored Entity table for selection. Until further notice, Sponsors should both: (1) use the business description text box to include the name(s) and GIIN(s) of closed/terminated sponsored entities that are being included in the certification; and (2) maintain as part of their records a list of the closed/terminated sponsored entities included in the certification, which the Sponsor may be required to provide to the IRS upon request.

If the space provided in the business description text box is not enough to include all of the closed/terminated Sponsored Entities for which the certification applies, Sponsors should include a notation in that text box indicating that additional entities not listed are part of the certification and that a list of all Sponsored Entities (including the names and GIINs) will be provided to the IRS when requested.

For purposes of completing the certifications required for the certification period ending December 31, 2017, a sponsoring entity may rely on the rules provided in the notice of proposed rulemaking (REG-103477-14) published on January 6, 2017, in the Federal Register (82 FR 1629).

Yes. In response to disruptions related to the COVID-19 virus, the IRS will grant an automatic extension of time to submit a FATCA certification for an entity with a certification due date of July 1, 2020. FATCA certifications that are due on July 1, 2020 will be extended to December 15, 2020, without the need to file an extension request with the IRS. The new due date will automatically show on the FATCA registration system.

If you have a FATCA certification due, and your registration status has been changed to under review with a message informing you to contact OFAC for more information, you will not be able to submit a FATCA certification at this time. Once the registration status is under review, you no longer have access to the periodic certification and certification of pre-existing accounts link.

If the account is placed back into registration approved status you will receive a message on your message board informing you of the registration status change to approved, and you will then have access to submit the applicable certification(s). If this occurs near or after the certification due date, you will be provided with additional time to submit your FATCA certification(s).

If the Member FI is no longer part of the EAG, it may change its type from Member to Single or Transfer to a new EAG if it is becoming a Member of a new EAG. See the FATCA Online Registration User Guide to change FI Type. If the member is Transferring to a new EAG see the FATCA Online Registration User Guide for instructions on how to complete a Transfer.

Please note that the cancellation or deletion of the former Member FI’s registration will cancel its original GIIN. That GIIN will no longer appear on the FFI list.

Yes, an FI can edit their type without cancelling their current registration agreement by selecting the “Change FI Type” link on the home page and updating the registration form.

The following FI Type changes are allowed within the FATCA Registration system:

• Member to single
• Single to lead
• Single to member (transfer to an expanded affiliated group)
• Lead to member (transfer to an expanded affiliated group).

See the FATCA Online Registration User Guide PDF for additional information.

No. See the FATCA Online Registration User Guide for general instructions for editing registration information.

Please note that you may need to provide updated information to your withholding agents.

An FI can edit their type without cancelling their current registration agreement by selecting the “Change FI Type” link on the home page and updating the registration from Single to Lead. See the FATCA Online Registration User Guide for additional information.

Once the FI has completed its update to “Lead” it may then begin to add Member FI’s. See FATCA Online Registration User Guide for additional information on how to add members.

In addition to re-registering, the FFI must cancel or delete its original registration. See the FATCA Online Registration User Guide for instructions for deleting or cancelling a FATCA registration. Before a Lead FI can cancel its registration, it must first ensure that all of its Member FIs have cancelled their FATCA registrations, and those Member FIs register to continue their applicable FATCA statuses.

Please note that cancelling or deleting the FFI’s original registration will cancel its original GIIN. That GIIN will no longer appear on the FFI list.

If a registrant dissolves before its FATCA registration is approved, then it should delete its registration. See the FATCA Online Registration User Guide for instructions for deleting a FATCA registration.

If a registrant dissolves after its FATCA registration is approved, then it should cancel its registration. See the FATCA Online Registration User Guide for instructions for cancelling a registration.

Yes, all displayed questions are mandatory, including text boxes. Therefore, if a question is displayed in the certification system, it must be answered. If a question may be inapplicable, “Not applicable” will be provided as an option for your answer. For text boxes, at least one character must be entered in each text box.

A certification cannot be edited once it is submitted. Prior to the deadline for submitting a certification (COPA or periodic certification), you may submit additional certifications with the corrected information by taking the same steps for completing the original certification (that is, click on the appropriate link on your home page and complete the questions). You will need to complete the entire certification again. That is, you cannot selectively change a particular response (although certain responses will be prepopulated based on your prior certification; these prepopulated responses can be edited). Before the certification is submitted, a notification will ask you whether you would like to submit an additional certification. Generally, submitting an additional COPA or periodic certification will supersede the previously submitted COPA or periodic certification. However, all submitted certifications are saved in the registration system.

A USFI is generally not required to register under FATCA, regardless of whether it maintains a foreign branch. However, a USFI must register if the USFI chooses to become a Lead FI and/or a Sponsoring Entity, or if the USFI seeks to maintain QI status with respect to one or more of its foreign branches. Also, a USFI with a foreign branch that is a reporting Model 1 FFI must register (and identify each such branch when registering).

A USFI with a foreign branch that is a non-QI branch and that is a reporting Model 2 FFI is not required to register with the IRS solely because it maintains a branch in the Model 2 jurisdiction. A USFI does not execute an FFI agreement with respect to the chapter 4 requirements of such a branch, but is subject to the withholding and reporting requirements under chapter 4 applicable to a U.S. withholding agent. Notwithstanding that the USFI does not execute an FFI agreement with respect to the chapter 4 requirements of such a branch, the USFI may, for accounts maintained by the branch, use the procedures set forth in Annex I of the applicable Model 2 IGA to determine which of the branch’s account holders are NPFFIs or NFFEs for which withholding or reporting under section 1472 may apply.

See Treas. Reg. § 1.6049-5(c) regarding the extent to which the documentation permitted under an IGA (including for identifying U.S. accounts (or U.S reportable accounts maintained by a reporting Model 1 FFI)) may be used to satisfy the documentation rules of chapter 61 for a payor.

If the FFI has a withholding obligation and will be filing Forms 1042 and Forms 1042-S with the Internal Revenue Service, it will be required to have an EIN. Please see publication 515 (“Withholding of Tax on Nonresident Aliens and Foreign Entities”) for further information about U.S. Withholding requirements. See Pub. 515. An FFI is also required to obtain an EIN when it is a QI, WP, or WT (through the application process to obtain any such status) or when the FFI is a participating FFI that elects to report its U.S. accounts on Forms 1099 under Treas. Reg. §1.1471-4(d)(5).

If a FFI does not have an EIN, it may apply for one using Form SS-4 (“Application for Employer Identification Number”) or the online registration system. See Apply-for-an-Employer-Identification-Number-(EIN)-Online for more information.

Certified-deemed compliant FFIs, owner-documented FFIs, and excepted FFIs will demonstrate their Chapter 4 withholding status to U.S. withholding agents by providing a withholding certificate and documentary evidence that complies with the requirements of Treas. Reg. 1.1471-3(d).

Yes, to the extent that you receive withholdable payments and are not subject to an exemption from the registration requirement. Under FATCA, to avoid being withheld upon, FFIs that are not subject to an exemption from the registration requirement must register with the IRS and agree to report to the IRS certain information about their U.S. accounts, including accounts of certain foreign entities with substantial U.S. owners. An FFI that fails to satisfy its applicable registration requirements will generally be subject to 30% withholding on withholdable payments that it receives.

Categories of FFIs that are exempt from registration include:

1. Certified deemed-compliant FFIs (including any entities treated as certified deemed-compliant);
2. Exempt beneficial owners;
3. Owner Documented FFIs; and
4. Excepted FFIs.

If the FFI agreement is terminated by either the IRS or the FFI pursuant to the termination procedures set forth in Section 12 of the FFI agreement, the FFI will be treated as a nonparticipating FFI and subject to 30% withholding on withholdable payments made after the later of (i) the date of termination of the FFI agreement, or (ii) June 30, 2014, except to the extent that the withholdable payments are exempt from withholding (e.g. under the rules related to grandfathered obligations) or the FFI qualifies for a chapter 4 status other than a nonparticipating FFI (such as a certified deemed-compliant FFI). See Revenue Procedure 2014-38, for the terms of the revised FFI agreement.

As set forth in Announcement 2014-17, released April 2, 2014, to ensure inclusion on the first IRS FFI List (which is expected to first be electronically available on June 2, 2014) prior to the date FATCA withholding goes into effect, an FFI must finalize its registration by May 5, 2014. The regulations generally provide that, in order for withholding not to apply, a withholding agent must obtain an FFI’s GIIN for payments made after June 30, 2014, though it need not confirm that the GIIN appears on the IRS FFI List until 90 days after the FFI provides a withholding certificate or written statement claiming status as a participating FFI or registered deemed-compliant FFI. A special rule, however, provides that a withholding agent does not need to obtain a reporting Model 1 FFI’s GIIN for payments made before January 1, 2015. See Treas. Reg. § 1.1471-3(d)(4)(iv)(A). As a result, while a reporting Model 1 FFI is currently able to register and obtain a GIIN, it will have additional time beyond July 1, 2014, to register and obtain a GIIN in order to ensure that it is included on the IRS FFI list before January 1, 2015. See Announcement 2014-17 for revised FATCA registration deadlines to ensure inclusion on the first FFI List (which is expected to be electronically available on June 2, 2014).

Generally, a Form W-8BEN will remain in effect for purposes of establishing foreign status for a period starting on the date the form is signed and ending on the last day of the third succeeding calendar year, unless a change in circumstances makes any information on the form incorrect. For example, a Form W-8BEN signed on September 30, 2015, remains valid through December 31, 2018.

However, under certain conditions a Form W-8BEN will remain in effect indefinitely until a change of circumstances occurs. To determine the period of validity for Form W-8BEN for purposes of chapter 4, see Treas. Reg. § 1.1471-3(c)(6)(ii). To determine the period of validity for Form W-8BEN for purposes of chapter 3, see Teas. Reg. § 1.1441-1(e)(4)(ii).

Withholding certificates and documentary evidence obtained for chapter 3 or chapter 61 purposes that would otherwise expire on December 31, 2013, will not expire before January 1, 2015, unless a change in circumstances occurs that would otherwise render the withholding certificate or documentary evidence incorrect or unreliable.

Please note that various Forms in the W-8 series were revised in 2014 to incorporate the certifications required for FATCA purposes and can now be found at Form & Pubs. See Treas. Reg. § 1.1471-3(c) for rules regarding reliance on a pre-FATCA Form W-8.

Box 9a generally accommodates 19 characters, and instructing the entity to use of a smaller font should solve any potential difficulty entering 19 characters. In addition, please note that a substitute form may be used in place of Form W–8BEN–E if the substitute form is substantially similar to Form W–8BEN–E. See Treas. Reg. § 1.1441-1(e)(4)(vi). Additionally, as provided in the Instructions for the Requester of Forms W–8BEN, W–8BEN–E, W–8ECI, W–8EXP, and W–8IMY, a withholding agent “may accept a GIIN that is indicated and clearly identified on the form rather than provided as required in box 9a or another box permitted in the Instructions for Form W–8BEN–E if the GIIN is clearly identified as being furnished with respect to the box.” A hand-written GIIN located just outside of box 9a with a corresponding arrow pointing to box 9a is one example of a properly-provided GIIN for purposes of box 9a.

A withholding agent may treat an obligation held by an entity (including an entity acting as an intermediary with respect to the obligation or a flow-through entity) as a preexisting obligation to the extent permitted in Notice 2014-33. Therefore, an obligation held by an intermediary or flow-through entity is treated as a preexisting obligation if it is issued, opened, or executed before January 1, 2015. In such a case, the withholding agent may rely on a pre-FATCA Form W-8 to document the holder of the obligation throughout 2014. If the flow-through entity or intermediary provides the withholding agent with a withholding statement allocating a portion of a payment to a chapter 4 withholding pool of recalcitrant account holders or NPFFIs (or payee-specific information for such persons), then the withholding agent is required to apply chapter 4 withholding to the portion of the payment allocated to each such pool of payees (or each such payee), even though it is not yet required to document the chapter 4 status of the flow-through entity or intermediary. However, a withholding agent must determine the chapter 4 status of a flow-through entity or intermediary as a PFFI or RDCFFI when provided with a withholding statement allocating a portion of a payment to a chapter 4 withholding rate pool of U.S. payees that the withholding agent reports on Form 1042-S as made to the pool rather than requiring payee-specific documentation for each payee in the pool or withholding and reporting in accordance with the applicable presumption rules.

If the withholding agent receives documentation from a flow-through entity with respect to an interest holder in the entity or from an intermediary with respect to its account holder and confirms (in writing) that the intermediary or flow-through entity treats the obligation as a preexisting obligation (including under Notice 2014-33, if applicable), the withholding agent may treat the obligation as a preexisting obligation provided that the withholding agent does not have documentation showing the interest holder or account holder to be an NPFFI. The preceding sentence would apply, for example, to documentation provided with respect to a passive NFFE that is an account holder in an intermediary and that does not provide the information or certification described in Treas. Reg. § 1.1471-3(d)(12)(iii) with respect to its owners.

Substitute Withholding Certificate: In General

A similar agreed form may include, for example, a substitute Form W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, or W-8IMY if its content is substantially similar to the IRS’s official Form W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, or W-8IMY (see the instructions to the requestor of Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY), and the partner jurisdiction does not decline such treatment. You may develop and use a substitute form that is in a foreign language, provided that you make an English translation of the form and its contents available to the IRS upon request. You may combine Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY into a single substitute form.

You may choose to provide a substitute form that does not include all of the chapter 4 statuses provided on the Form W-8, but the substitute form must include any chapter 4 status for which withholding may apply, such as the categories for a nonparticipating FFI or passive NFFE. See Treas. Reg. § 1.1471-3(c)(6)(v)(A). You may also provide with the form an alternative certification that reflects the requirements under an applicable IGA instead of the certification of chapter 4 status otherwise required by the form. See the Instructions for the Requester of Forms W–8BEN, W–8BEN–E, W–8ECI, W–8EXP, and W–8IMY and the Instructions for Form W-8BEN-E for the requirements to use alternative certifications with respect to Form W-8BEN-E, which also apply to a substitute version of the form.

You are also required to furnish instructions for the substitute form to the extent and manner provided in the official instructions for the official form.

You may incorporate a substitute Form W-8 into other business forms you customarily use, such as account signature cards, provided the required certifications are clearly set forth. However, you may not:

1. Use a substitute form that requires the payee, by signing, to agree to provisions unrelated to the required certifications, or
2. Imply that a person may be subject to 30% withholding or backup withholding unless that person agrees to provisions on the substitute form that are unrelated to the required certifications.

A substitute Form W-8 is generally valid only if it contains the same penalties of perjury statement and certifications as the official forms and the required signature. However, if the substitute form is contained in some other business form, the words “information on this form” may be modified to refer to that portion of the business form containing the substitute form information, including any alternative certification under an applicable IGA provided with the substitute form. The design of the substitute form must be such that the information and certifications that are being attested to by the penalties of perjury statement clearly stand out from any other information contained on the business form.

Substitute Withholding Certificate: Non-IRS Form for Individuals

A similar agreed form may also include a non-IRS form used in place of a Form W-8BEN (for individuals). The substitute form must include the information required in Treas. Reg. § 1471-3(c)(6)(v), and the form must be signed, dated, and also certified under penalties of perjury unless the form is accompanied by documentary evidence that supports the individual’s claim of foreign status. For a case in which a withholding certificate is required to be associated with a payment subject to chapter 3 withholding or reportable amount under Treas. Reg. § 1.1441-1(e)(3)(vi), however, see the requirements for a beneficial owner withholding certificate under Treas. Reg. § 1.1441-1(e)(2).

Documenting an Entity’s Chapter 4 Status with a Written Statement

You may use a written statement described in Treas. Reg. § 1.1471-3(c)(4) to document an entity account holder or payee. Such a written statement is valid only to the extent that it is permitted to be used based on the requirements of Treas. Reg. § 1.1471-3(d). Also see Treas. Reg. § 1.1471-3(d) for when a written statement must be supported by documentary evidence of the payee’s foreign status. The written statement may incorporate, rather than a chapter 4 status described in Treas. Reg. § 1.1471-3(d), a certification of status as determined under the requirements of an applicable IGA.

In addition to a self-certification described in General Compliance Q8, a self-certification would be an acceptable self-certification for purposes of the Annex I due diligence procedures for preexisting and new accounts and would not need to be agreed between an IGA jurisdiction and the United States if it (i) is signed (or otherwise positively affirmed), (ii) is dated (at the latest at the date of receipt), and (iii) solicits, at a minimum, the following information:

(i) name;

(ii) residence address for tax purposes;

(iii) jurisdiction(s) of residence for tax purposes (note that a U.S. citizen is considered a U.S. tax resident even if the person is also a tax resident of another jurisdiction);

(iv) taxpayer identification number (If taxpayer has both a U.S. TIN and a foreign TIN, the U.S. TIN must be provided, and the foreign TIN may be provided);

(v) in the case of an entity, the entity’s status (an entity’s FATCA status would include its status as a Nonparticipating FFI, Participating FFI, Reporting Model 1 FFI, Reporting Model 2 FFI, Nonreporting IGA FFI, Active NFFE, Passive NFFE, etc.); and

(vi) in the case of a Passive NFFE, the name, residence address for tax purposes, and taxpayer identification number with respect to any Controlling Person that is a Specified U.S. Person.

For purposes of enforcement and administration with respect to the implementation of FATCA by withholding agents, FFIs, and other entities with chapter 4 responsibilities, the IRS will take into account the transition period for calendar years 2014 and 2015. See Notice 2014-33 for additional information.

An IGA jurisdiction planning to implement the OECD Standard for Automatic Exchange of Financial Account Information in Tax Matters (the Common Reporting Standard) may want the self-certification form to also require date of birth. With this additional information, the self-certification form would be consistent with the Common Reporting Standard and the multilateral understanding of a valid self-certification.

This FAQ does not address what would be an acceptable beneficial owner withholding certificate for purposes of chapter 3. For an acceptable beneficial owner withholding certificate for purposes of chapter 3 reporting and withholding responsibilities, see §1.1441-1(e)(2)(ii).

No. Pursuant to section III, paragraph B, of Annex I of the IGA, the FFI must obtain a self-certification at account opening. If the FFI cannot obtain a self-certification at account opening, it cannot open the account.

Yes. The Form W-8 will be considered to have been scanned and received electronically by the withholding agent, provided that the withholding agent does not know that the email containing the link to the third-party repository has been transmitted by someone other than the payee or an agent of the payee. Also, because the withholding agent has obtained the form at the payee’s direction, the form will be treated as having been furnished by/provided by the payee (see sections 1.1441-1(e)(1)(ii)(A)(1) and 1.1471-3(c)(1)). A withholding agent is still required to determine whether the form is valid and may be relied upon for purposes of chapter 3 or 4 and whether a change in circumstances affects its continuing reliance on the form.

This FAQ has been superseded by Treasury Regulations Section 1.1441-1(e)(iv)(E).

Due to the implementation of FATCA, foreign banks are required to document all U.S. persons and report certain financial information to the Internal Revenue Service. A U.S citizen choosing not to provide their Tax Identification Number ("TIN") (often a Social Security number) may result in the foreign bank closing their accounts or applying withholding on any payments made to the U.S. Person.

Use Form 8809-I to request an initial or additional extension of time to file Form 8966 for the current tax year. File Form 8809-I as soon as you know an extension of time to file is necessary, but not before January 1 of the filing year. Form 8809-I must be filed by the Form 8966 due date (generally, March 31 of the year following the reporting year of the return). If you are requesting an additional hardship extension, Form 8809-I must be filed by the first extended due date of Form 8966.

Note: Under the terms of their applicable IGAs, reporting Model 2 Foreign Financial Institutions (FFI) aren't entitled to an extension of time for aggregate reporting on non-consenting U.S. accounts or non-consenting non-participating FFIs. Entities that are located in a Model 1 jurisdiction and reporting on behalf of themselves (or any entities that are reporting on behalf of another entity that is located in a Model 1 Jurisdiction) may not request an additional extension of time to file Form 8966 from the IRS because they must report directly to the Model 1 jurisdiction's tax authority.

The automatic extension of time to file Form 8966 is 90 days from the original due date. The IRS may grant an additional 90-day extension of time to file Form 8966 under the hardship exception. Requests for an additional extension of time to file Form 8966 aren't automatically granted. Generally, requests for additional time are granted only where it is shown that extenuating circumstances will prevent filing by the date granted by the first request.

Filers may be subject to a late filing penalty if Form 8966 is filed late and you haven't applied for and received an approved extension of time to file.

Where to file:

Mail a paper Form 8809-I to:

Internal Revenue Service

FATCA, Stop 6052 AUSC

3651 South IH 35

Austin, Texas 78741

Filers who are requesting a waiver from filing Form 8966 electronically should file Form 8508-I. You should file Form 8508-I at least 45 days before the due date of the Form 8966. Form 8966 is due March 31 of the year following the reporting year, unless you are an FFI reporting under a Model 2 IGA with a different reporting date specified in the applicable Model 2 IGA. Waiver requests will be processed beginning January 1st of the calendar year the return is due.

Note: See Treasury regulations section 301.1474-1(a) for additional information.

If you are required to file electronically but fail to do so and you do not have an approved waiver on record, penalties under Code sections 6721 through 6724 may apply.

Where to file:

Mail a paper Form 8508-I to:

Internal Revenue Service

FATCA, Stop 6052 AUSC

3651 South IH 35

Austin, Texas 78741

The RO should indicate their corporate business title such as President, Vice-President, Treasurer etc., and not the name of the business.

A Single FI that is not a sponsoring entity should only have one GIIN. Duplicate or Multiple Registrations attempting to correct errors should be cancelled by the appropriate RO.

In general, the Registration User Guide contains guidance on registration. Specific guidance on some common bulk acquisition and merger scenarios are provided below:

B acquires A, A’s operations are subsumed into B, and B retains name

Under this fact pattern, Entity B would not need to change its existing registration or acquire a new GIIN. If Entity A had previously registered for FATCA, it would need to terminate its registration.

B acquires A, A’s operations are subsumed into B, and B alters/changes its name

Under this fact pattern, Entity B would need to update its registration for the name change, but would not need a new GIIN. If Entity A had previously registered for FATCA, it would need to terminate its registration.

B acquires A, and A wishes to become a member entity

There are different ways for Entity A to become a member of Entity B. For example, Entity A can terminate its existing registration, and Entity B can update its registration to include Entity A as its member. Upon this registration, Entity A would be issued a new GIIN. Alternatively, if Entity B is a Lead FI, Entity A may initiate a transfer and become a member of Entity B. Upon the transfer, Entity A would be issued a new GIIN. Under this scenario, Entity A would not need to terminate its registration. For more information on the transfer function please see the user guide.

You should wait 45 days from the date you mailed your Form 8809-I to contact the IRS about your additional extension to file Form 8966. If it has been over 45 days please call the IRS at 267-941-1000 (not a toll-free number) for information about your request.

A withholding agent must obtain a foreign TIN on a beneficial owner withholding certificate in the following circumstances:

1. For a foreign person claiming a reduced rate of withholding under an income tax treaty if the foreign person does not provide a U.S. TIN and the income is a type to which the TIN requirement apples (see Treas. Reg. § 1.1441-6); and
2. Except as otherwise provided in Treas. Reg. §1.1441-1T(e)(2)(ii)(B), for a foreign person that is an account holder (as defined in Treas. Reg. § 1.1471-5(a)(3)) of a financial account (as defined in Treas. Reg. §1.1471-5(b)) maintained at a U.S. branch or office of the withholding agent, but only if the withholding agent is a financial institution (as defined in Treas. Reg. § 1.1441-1(b)(50)).

For calendar year 2017, a withholding agent is not required to treat an otherwise valid beneficial owner withholding certificate as invalid when it does not include a foreign TIN because, in the absence of actual knowledge otherwise, the withholding agent may assume that the foreign person does not have a foreign TIN.

For beneficial owner withholding certificates obtained by a withholding agent on or after January 1, 2017, the withholding agent must collect a date of birth on a beneficial owner withholding certificate for an individual beneficial owner. However, if the withholding agent has the beneficial owner’s date of birth in its files, it may use that information for reporting purposes and will not be required to treat a Form W-8BEN as invalid because it did not include a date of birth.

In such a case, a withholding agent is permitted to obtain the foreign beneficial owner’s foreign TIN on a written statement provided by the beneficial owner (including a written statement transmitted by email) that indicates that the foreign TIN is to be associated with the beneficial owner withholding certificate. A withholding agent is similarly permitted to obtain the reasonable explanation for the absence of a foreign TIN referred to in Treas. Reg. §1.1441-1T(e)(2)(ii)(B) in this manner.

For calendar years 2017 through 2024, a withholding agent will not be subject to interest, penalties, or additions to tax with respect to a dividend equivalent payment made with respect to a derivative referencing a partnership provided that the withholding agent withholds and reports on Form 1042 and Form 1042-S with respect to the payment by September 17, 2018 (for the 2017 calendar year), September 16, 2019 (for the 2018 calendar year), September 15, 2020 (for the 2019 calendar year), September 15, 2021 (for the 2020 calendar year), or September 15, 2022 (for the 2021 calendar year), September 15, 2023 (for 2022 calendar year), September 15, 2024 (for the 2023 calendar year), or September 15, 2025 (for 2024 calendar year). In a case in which a withholding agent withholds after March 15 of the subsequent year, the withholding agent should file a Form 1042 (if the dividend equivalent payments are the only payments reportable for the year) or an amended Form 1042 by September 17, 2018, September 16, 2019, September 15, 2020, September 15, 2021, September 15, 2022, September 15, 2023, September 15, 2024, or September 15, 2025 (as applicable), and write “Dividend Equivalent—Partnership” in the top center portion of the 2017, 2018, 2019, 2020, 2021, 2022, 2023, or 2024 Form 1042. The withholding agent should also file Form(s) 1042-S or amended Form(s) 1042-S by the applicable date noted above with respect to the dividend equivalent payment. Finally, when depositing the tax withheld for a dividend equivalent payment made in 2017, 2018, 2019, 2020, 2021, 2022, 2023 or 2024, the withholding agent must designate the payment as being made for the applicable calendar year in accordance with the instructions to Form 1042.

Proposed regulations published December 18, 2018 (83 FR 64757) will allow a partnership or trust that withholds in a subsequent year with respect to a foreign partner’s or beneficiary’s share of undistributed income for the prior year to designate the deposit of the withholding as attributable to the preceding year and report the associated amount on Forms 1042 and 1042-S for the preceding year. The proposed regulations will also extend the due date for partnerships to file Form(s) 1042-S until September 15 when it withholds the tax after March 15 of the subsequent year that it designates as deposited for the preceding year. The preamble to the proposed regulations indicates that the IRS would amend the instructions to the 2019 year Forms 1042 and 1042-S to reflect the proposed regulations.

In addition, for tax year 2018 to the extent that a calendar year partnership or trust applies the above-described proposed regulations, the partnership or trust will not be assessed any penalty associated with its reliance on the regulations (or, if a penalty is assessed, the partnership or trust may have the penalty abated).

To avoid a penalty associated with its deposit of the tax when applying this approach for the 2018 year, the partnership or trust should write “Withholding under the Lag Method” on the top center portion of the 2018 Form 1042 and ensure that their chapter 3 status code properly reflects their status as a partnership or trust (including as a Withholding Foreign Partnership(WP) or Withholding Foreign Trust(WT)). Any amount withheld in 2019 that is designated for the 2018 year should be reported on Line 65 as paid in subsequent year. In such as case, a partnership or trust must report the income and the amounts withheld on a Form 1042-S for 2018.

The U.S. Department of Treasury’s list of jurisdictions that are treated as having an intergovernmental agreement in effect can be found at the IGA LIST.

More information on registration can be found in the FATCA Registration Online User Guide: FATCA Registration Resources Page (See Section 2.4 “Special Rules for Registration”).

Financial Institutions that are treated as Reporting Financial Institutions under a Model 2 IGA (see the list of jurisdictions treated as having an IGA in effect at IGA LIST) should register as Participating Foreign Financial Institutions.

More information on registration can be found in the FATCA Registration Online User Guide: FATCA Registration Resources Page (See Section 2.4 “Special Rules for Registration”).

Unless the Treasury website provides that your country is treated as having an IGA in effect, then, because of its local law restrictions, this FFI should register as a Limited FFI provided it meets the definition shown directly below. See FATCA - Archive for a list of countries treated as having an IGA in effect.

A Limited FFI means an FFI that, due to local law restrictions, cannot comply with the terms of an FFI Agreement, or otherwise be treated as a PFFI or RDCFFI, and that is agreeing to satisfy certain obligations for its treatment as a Limited FFI.

Yes, if an FFI treated as a reporting Model 1 FFI wishes to have a GIIN, a Responsible Officer must be designated in Part 1, line 10 of Form 8957. Please see the FAQs on Responsible Officers for further information.

No. The chapter 4 regulations generally provide that, in order for withholding not to apply, a withholding agent must obtain the GIIN of a PFFI or an RDCFFI for payments made after June 30, 2014. A special rule in these regulations, however, provides that a withholding agent does not need to obtain a reporting Model 1 FFI’s GIIN for payments made before January 1, 2015. As a result, a reporting Model 1 FFI will have additional time beyond July 1, 2014, to register and obtain a GIIN in order to ensure that it is included on the IRS FFI list before January 1, 2015. Additionally, a reporting Model 1 FFI is not required to register prior to December 31, 2014, in order for its expanded affiliated group to meet the requirements of Treas. Reg. §1.1471-4(e)(1).

A nonreporting financial institution in a Model 1 jurisdiction is treated as a certified deemed-compliant FFI and is not required to register unless it (1) is subject to a registration requirement under its QI Agreement (see Rev. Proc. 2014-39) or its WP or WT Agreement (see Rev. Proc. 2014-47), (2) will act as a sponsoring entity, (3) will act as a lead FI for one or more related entities, (4) is explicitly required to register under the applicable IGA, or (5) has a financial account on which to report to the Model 1 jurisdiction under the requirements of the applicable IGA.

Announcement 2014-38 does not change the requirement in the chapter 4 regulations that for payments made on or after January 1, 2015, in order for withholding not to apply, a withholding agent may treat a reporting Model 1 FFI as a registered deemed-compliant FFI only if the withholding agent has a withholding certificate identifying the payee as a registered deemed-compliant FFI and the withholding certificate contains a GIIN for the payee that is verified in the manner described in those regulations. Thus, to avoid withholding on certain payments made on or after January 1, 2015, a reporting Model 1 FFI should register and obtain a GIIN to properly certify its status to a withholding agent required to document the FFI for chapter 4 purposes. A reporting Model 1 FFI that has registered but not yet obtained a GIIN should indicate to its withholding agent that its GIIN is "applied for," and in such case, the withholding agent will have 90 days from the date it receives the Form W-8 to obtain a GIIN and to verify the accuracy of the GIIN against the published IRS FII list before it has reason to know that the payee is not a registered deemed-compliant FFI.

Announcement 2014-38 similarly does not change the timing of any other due diligence and reporting requirements in the chapter 4 regulations.

Section 12.01 of the FFI agreement, set forth in Section 6 of Rev. Proc. 2017-16 states that the current FFI agreement expires on December 31, 2018, and may be renewed as provided in section 12.08. Section 12.08 provides that a participating FFI may renew the FFI agreement via the FATCA registration website or as otherwise provided by the IRS. FAQ 16 provides that rather than renewing the FFI agreement via a link on the FATCA registration website, a participating FFI that intends to renew the FFI agreement may do so by remaining registered on the FATCA registration website after December 31, 2018. FAQ 16 also provides that continuing to remain registered will be treated as a participating FFI’s agreement with the terms of the FFI agreement in Rev. Proc. 2017-16 until December 31, 2022, or the publication of another revenue procedure that supersedes all or part of Rev. Proc. 2017-16.

This FAQ announces that, except as provided in the following paragraph, the IRS will treat a participating FFI’s continued registration as its agreement with the terms of the FFI agreement contained in Rev. Proc. 2017-16 until the earlier of December 31, 2024, or the publication of another revenue procedure that supersedes all or part of Rev. Proc. 2017-16.

Section 12.08 of the FFI agreement provides that an FFI agreement will be renewed only upon the agreement of both the participating FFI and the IRS. If an FFI is located in a jurisdiction that is treated as not having a Model 1 IGA in effect on or before the last day of the year, but the jurisdiction is treated as having a Model 1 IGA on the first day of the following year, the FFI will be treated as a reporting Model 1 FFI under the Model 1 IGA as of date of the Model 1 IGA. In such a case when the FFI’s FFI agreement would also expire on the last day of the year (absent a renewal), the FFI’s FFI agreement will have expired with respect to the participating FFI in accordance with its terms, and the Model 1 IGA will immediately thereafter begin to be in effect. The FFI agreement will continue to apply as described in the preceding paragraph, however, with respect to any of the FFI’s branches that are covered by the FFI agreement and are located in another jurisdiction. See FAQs 2 and 3 in this section for requirements that apply to an FFI described in this paragraph with respect to its expired FFI agreement.

A direct reporting NFFE is eligible to register for this status and when registering should complete an online registration (or, alternatively, submit a paper Form 8957) based on the instructions provided in this FAQ. For registrations occurring in years after 2014, it is anticipated that both the online registration user guide and the Instructions for Form 8957 will be updated to incorporate instructions for registering direct reporting NFFEs.

In general, for purposes of completing the registration of a direct reporting NFFE, substitute the words “direct reporting NFFE” for the words “financial institution” wherever they appear in the online registration user guide (or in the Instructions for Form 8957). Unless specific instructions for a registration question are described here in this FAQ, please use the generally applicable instructions provided in the online registration user guide (or in the Instructions for Form 8957).

Part 1

Question 1 — Select “Single”.

Question 4 — Select “None of the above”.

Question 6 — Select “Not applicable”.

Question 7 — Select “No”. (If using the portal online, selecting “no” will automatically skip Questions 8 and 9.)

Question 8 — Skip this question (which relates to branches)

Question 9 — Skip all parts (a) through (c) of this question (which relate to branches).

Question 10 — Enter the information of the individual who will be responsible for ensuring that the direct reporting NFFE meets its FATCA reporting obligations and will act as a point of contact with the IRS in connection with its status as a direct reporting NFFE.

Part 2 — It is not necessary for a direct reporting NFFE to complete this section. (If using the portal online, selecting Single in question 1 will automatically skip Part 2.)

Part 3 — It is not necessary for a direct reporting NFFE to complete this section. (If using the portal online, selecting “Not Applicable” in question 6 will automatically skip Part 3.)

Part 4 — The individual who completes this part must have the authority to provide the certification.

Please note the following for a NFFE that is a Qualified Intermediary (QI), a Withholding Foreign Partnership (WP), or a Withholding Foreign Trust (WT):

A NFFE that registers and obtains a GIIN should renew its QI/WP/WT agreement (as applicable) through the portal and generally follow the instructions above. However, Part 1, Question 6 should be answered to reflect the NFFE’s appropriate QI/WP/WT status. NFFEs that obtain GIINs include (i) NFFEs that are acting as QIs with respect to their owners (which are required to register as direct reporting NFFEs), and (ii) QI/WP/WT NFFEs that are also Sponsoring Entities for chapter 4 purposes.

A NFFE cannot execute a QI/WP/WT agreement through the portal (other than a renewal of an existing agreement). A NFFE that is registered on the portal for its chapter 4 status as either a direct reporting NFFE or Sponsoring Entity and is seeking initial QI/WP/WT status must execute a QI/WP/WT agreement through the existing traditional paper processes for those entities. Once the NFFE receives the appropriate EIN to act as a QI/WP/WT through that process, the NFFE should amend Part 1, Question 6 of its FATCA registration on the portal to reflect its new status as a QI/WP/WT and add its EIN to its registration.

Note that an entity that wishes to renew its status as a WP or WT will have until July 31, 2014, to register with the IRS to renew its WP or WT status and will not be required to assume the requirements of an updated agreement before August 1, 2014.

A sponsor of a sponsored direct reporting NFFE is a sponsoring entity (see Treas. Reg. § 1.1471-1T(b)(124)) and should complete an online registration (or, alternatively, submit a paper Form 8957) as a sponsoring entity, based on the instructions provided in this FAQ. A sponsoring entity need only complete one registration to act as the sponsor for both sponsored FFIs and sponsored direct reporting NFFEs. For registrations occurring in years after 2014, it is anticipated that both the online registration user guide and the Instructions for Form 8957 will be updated to incorporate this information, including by incorporating the definition of sponsoring entity provided in Treas. Reg. § 1.1471-1T(b)(124).

In general, for purposes of having a sponsor register a sponsored direct reporting NFFE, substitute the words “sponsor of a direct reporting NFFE” for the words “sponsoring entity” wherever they appear in the online registration user guide (or in the Instructions for Form 8957). Unless specific instructions for a registration question are described here in this FAQ, please use the generally applicable instructions provided in the online registration user guide (or in the Instructions for Form 8957).

Part 1

Question 1 — Select “Sponsoring Entity.”

Question 4 — Select “None of the above.”

Question 6 — Select “Not applicable."

Question 7 — Select “No.” (If using the portal online, selecting “no” will automatically skip Questions 8 and 9)

Question 8 — Skip this question (which relates to branches)

Question 9 — Skip all parts (a) through (c) of this question (which relate to branches).

Question 10 — Enter the information of the individual who will be responsible for ensuring that the direct reporting NFFE meets its FATCA reporting obligations and who will act as a point of contact with the IRS in connection with its obligations as a sponsoring entity.

Part 2 — It is not necessary for a sponsor of a direct reporting NFFE to complete this section. (If using the portal online, selecting Sponsoring Entity in question 1 will automatically skip Part 2.)

Part 3 — It is not necessary for a sponsor of a direct reporting NFFE to complete this section. (If using the portal online, selecting “Not Applicable” in question 6 will automatically skip Part 3.)

Part 4 — The individual who completes this part must have the authority to provide the certification.

Yes. For Part 2, Question 12, select “None of the above” as the Member Type. See above for additional information on how to register a direct reporting NFFE. As noted in the FAQs on Expanded Affiliated Groups, the use of Lead FIs is elective. Therefore, a NFFE that is part of an EAG is not required to be registered as a Member FI.

No. The direct reporting NFFE should register itself only and will be issued a single GIIN.

Log on to the FATCA FFI Registration System, verify and update the registration information as needed and re-submit the application.

If your registration status is Registration Incomplete, it is because the IRS has identified an issue with your registration. Please review your registration for any of the following errors and update it accordingly. After you have updated your registration, you must resubmit in order for your registration to be processed.

1. The FFI has identified itself as a Qualified Intermediary with a QI-EIN of which the IRS has no record. (If you have QI, WP or WT Agreement signed with the IRS, please contact the Financial Intermediaries Team for further assistance.)
2. The RO has been identified with initials only and no specific name has been provided.
3. The RO does not appear to be a natural person.
4. Notice 2013-43 stated that after January 1, 2014 the FI will need to submit a final registration. If an FI submitted a registration prior to this date, the registration status was systemically updated to Registration Incomplete on December 31, 2013.

To update and resubmit your registration, login to your FATCA account, and select "Registration – Edit/Complete/Submit" under the Available Account Options on your home page. You will be asked if you want to change your status to Initiated. Select yes, and review each page of the registration, making any necessary updates, and clicking the "next button at the bottom of each page to continue. When you get to Part 4 of the registration, complete the information, and click on the Submit button. Your registration status will then be updated to Registration Submitted. You can go back at any time to update information.

PFFI Status for Reporting Model 2 FFI

Reporting Model 2 FFIs are registering to obtain a GIIN, provide authorization for individuals named in Part 1, Line 11 of the FATCA Registration to receive information related to FATCA registration, and to confirm that they will comply with the terms of an FFI Agreement in accordance with the FFI agreement, as modified by any applicable Model 2 IGA.

Notwithstanding the paragraph above, Reporting Model 2 FFIs operating branches outside of Model 1 or 2 IGA jurisdictions are agreeing to the terms of an FFI Agreement for such branches, unless the branches are treated as Limited Branches or are U.S. branches that are treated as U.S. persons. Additionally, Reporting Model 2 FFIs requesting renewal of a QI, WP or WT Agreement are entering into the renewed Model QI, WP, or WT Agreements, as applicable.

RDCFFI Status for Reporting Model 1 FFI

Reporting Model 1 FFIs are not entering into FFI Agreements via the FATCA registration process. Reporting Model 1 FFIs are registering to obtain a GIIN and to provide authorization for individuals named in Part 1, Line 11 of the FATCA Registration to receive information related to FATCA registration. Notwithstanding the preceding sentence, Reporting Model 1 FFIs operating branches outside of Model 1 or 2 IGA jurisdictions are agreeing to the terms of an FFI Agreement for such branches, unless the branches are treated as Limited Branches. Additionally, Reporting Model 1FFIs requesting renewal of a QI, WP or WT Agreement are entering into such renewed Model QI, WP, or WT Agreements, as applicable.

RDCFFI Status for FFI (other than a Reporting Model 1 FFI)

An FFI that is registering as an RDCFFI, other than a Reporting Model 1 FFI, is agreeing that it meets the requirements to be treated as an RDCFFI under relevant Treasury Regulations or is agreeing that it meets the requirements to be treated as a RDCFFI pursuant to an applicable Model 2 IGA.

Sponsoring Entity Status

An entity that is registering as a Sponsoring Entity is agreeing that it will perform the due diligence, reporting and withholding responsibilities of one or more Sponsored FFIs or Sponsored Direct Reporting NFFEs.

Limited FFI or Limited Branch Status

An FFI that is registering as a Limited FFI is confirming that it will comply with the terms applicable to a Limited FFI. A branch of a PFFI that is registering as a Limited Branch is confirming that it will comply with the terms applicable to a Limited Branch. GIINs will not be issued to a Limited FFI or Limited Branch.

Renewing QI/WP/WT

An FFI, including a foreign branch of a USFI, requesting renewal of a QI Agreement is agreeing to comply with the relevant terms of the renewed Model QI Agreement with respect to its branches that are identified as operating as a QI. The obligations under the renewed Model QI Agreement are in addition to any obligations imposed on the FFI to be treated as a PFFI, Reporting Model 2 FFI, RDCFFI, or Reporting Model 1 FFI.

An FFI that is applying to renew its WP or WT Agreement is agreeing to comply with the relevant terms of the renewed Model WP or WT Agreement. The obligations under the renewed Model WP or WT Agreement are in addition to any obligations imposed on the FFI to be treated as PFFI, Reporting Model 2 FFI, RDCFFI, or Reporting Model 1 FFI. Additionally, a QI, WP, or WT is also certifying that it has in place and has implemented written policies, procedures, and processes for documenting, withholding, reporting and depositing tax with respect to its chapters 3 and 61 withholding responsibilities under its QI, WP, or WT Agreement.

USFI treated as a Lead FI

A USFI that is part of an EAG and registering its Members FIs is agreeing to manage the online FATCA account for each such Member FI.

Direct Reporting NFFE

A direct reporting NFFE is agreeing to comply with the terms and obligations described under Treas. Reg. § 1.1472-1(c)(3).

Trustees needing to register trustee-documented trusts (a certified deemed-compliant status for FFIs under the Model 1 and Model 2 IGAs) should use the same procedures Sponsors use to register Sponsored Entities. The trustee should select “Sponsoring Entity” as its FI Type, and select “None of the above” in Part 1, Question 4. More information on how to register a Sponsoring Entity can be found in the FATCA Registration Online User Guide.

Please note that if a trustee is required to register itself based on its own applicable status as an FFI, it will do so on a separate registration, and thus will have two separate GIINs, one for such use and another for use in its capacity as a trustee of a Trustee-Documented Trust.

The Trustee-Documented Trust itself will not be registered and does not need to obtain a GIIN.

No. An FFI does not execute a paper version of the FFI Agreement. When a PFFI in a non-IGA jurisdiction completes its FATCA registration, the PFFI is agreeing to comply with the terms of the FFI Agreement set forth (as revised) in Rev. Proc. 2014-38. When a Reporting Model 2 FFI completes its FATCA registration, it is agreeing to comply with the terms of the FFI Agreement, as modified by the applicable Model 2 IGA. A PFFI in a non-IGA jurisdiction or a reporting Model 2 FFI may also register on the FATCA registration website on behalf of one or more of its branches located in a non-IGA or Model 2 jurisdiction to obtain a GIIN and to agree to comply with the terms of the FFI agreement, as applicable.

In general, the FFI agreement does not apply to a reporting Model 1 FFI, or any branch of such an FFI, unless the reporting Model 1 FFI has registered a branch located outside of a Model 1 IGA jurisdiction seeking to be treated as a PFFI or reporting Model 2 FFI.

In general, an entity (or branch) with a FATCA registration obligation should not be registered more than once. There are certain exceptions to this rule. For example, an FFI that will also act as a Sponsoring Entity for one or more Sponsored Entities for chapter 4 purposes is required to submit one FATCA registration to obtain status as a PFFI and a second FATCA registration to act as a Sponsoring Entity. If an entity has improperly registered itself more than once, then the entity should either delete or cancel its duplicate FATCA registration(s), as appropriate. The proper course of action will depend on whether the duplicate FATCA registration(s) have been processed. If the status of a duplicate FATCA registration is “Approved” or “Limited Conditional,” then the duplicate registration should be cancelled. See Section 5.3.6 of the FATCA Registration Online User Guide for instructions for cancelling a registration. If the status of a duplicate FATCA registration is neither “Approved” nor “Limited Conditional,” then the duplicate FATCA registration should be deleted. See Section 5.3.5 of the FATCA Registration Online User Guide for instructions for deleting a FATCA registration.

The regulations treat all units, businesses, offices and disregarded entities of a PFFI located in a single country as a single branch of the FFI. Therefore, an FI generally should not register more than one branch in the same jurisdiction. (However, see the Branch/Disregarded Entity FAQs for a special rule for registering disregarded entities in Model 1 IGA jurisdictions.) Thus, duplicate branch registrations in a single jurisdiction with respect to an FFI must be deleted. See Section 5.7 of the FATCA Registration Online User Guide for instructions for deleting a branch registration.

If a registrant has been issued multiple GIINs because it has improperly completed multiple FATCA registrations, then the registrant must choose one GIIN and use it consistently for all chapter 4 purposes. The registrations or FFI Agreements connected with the improper multiple GIINs should be deleted or cancelled as provided above.

No. For more information, please contact the Office of Foreign Assets Control at 800-540-6322, or refer to the OFAC website.

As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called "Specially Designated Nationals" or "SDNs." Their assets are blocked and U.S. persons are prohibited from dealing with them.

The answer depends on your FATCA classification. Not all entities are required to enter into an FFI agreement in order to receive a GIIN. If you are an entity that is required to enter into an FFI agreement and did so before January 1, 2017, you must renew your FFI agreement by July 31, 2017, in the FATCA FFI Registration System if you want to remain on the FFI List. The table below provides a general overview of the types of entities that are required to renew their FFI agreement. For additional guidance, see Sections 4 and 6 of Revenue Procedure 2017-16, the Treasury regulations, or an applicable intergovernmental agreement (IGA).

Renewal of FFI Agreement

If you are an entity that is not required to renew, you do not need to take any action with respect to your registration. You are not required to answer “No.” You will remain in “Approved Status,” and you will remain on the FFI list.

Note: entities that are located in a Model 1 jurisdiction that entered into an FFI agreement on behalf of certain branches, described in the table above, must renew the FFI agreement on behalf of those branches.

The FFI agreement contained in Rev. Proc. 2014-38 terminated on December 31, 2016. Therefore, if you do not renew your FFI agreement (contained in Revenue Procedure 2017-16) by July 31, 2017, you will be considered a nonparticipating FFI as of January 1, 2017, and you will be removed from the FFI list.

If you must renew your FFI agreement but incorrectly selected “No,” you may return to your FATCA FFI Registration system home page, click on the “Renew FFI Agreement” link, and select “Yes” to complete your renewal before the July 31, 2017, deadline.

Yes, participating FFIs (including Reporting Model 2 FFIs) that have otherwise complied with the terms of the FFI agreement (including, since January 1, 2017, the current FFI Agreement) have until October 24, 2017, to renew the FFI agreement and continue to be treated as a participating FFI.

If an entity that is required to renew the FFI agreement does not renew the FFI agreement by October 24, 2017, the registration status of the entity will be changed to “incomplete,” the entity’s GIIN will no longer appear on the monthly FFI List beginning in November, and the entity will be considered a nonparticipating FFI as of January 1, 2017, as provided in section 3.02 of Revenue Procedure 2017-16.

Address Line cannot be a website address.

1. Registration Part 1, Number 1: Financial Institution Type: If selecting Sponsoring Entity, a QI EIN should not be provided. The QI EIN should only be used for QI purposes (section 2.66 of Revenue Procedure 2017-15).
2. Registration Part 1, Number 2: Legal Name of Financial Institution: Cannot be left blank or abbreviated; use full legal name (for Lead, Member, Single, Sponsoring, Sponsored, etc.). Also remember to check the spelling of the FI name.
3. Registration Part 1, Number 4: FI’s FATCA classification in its country/jurisdiction: The FATCA classification selected should be consistent with the IGA in force.
4. Registration Part 1, Number 5: Mailing Address of Financial Institution: Required fields cannot be left blank or contain erroneous information.
5. Registration Part 1, Number 6: in reference to withholding agreement as QI/WT/WP EIN of the FI: If you have not registered with the IRS QI/WT/WP program and received a valid TIN for this purpose, do not insert a number or select any of the aforementioned statuses.
6. Registration Part 1, Number 10: FATCA RO for FI:

   Legal Last Name (Family) and Legal First Name (Given): Fields cannot be left blank or contain erroneous information, initials, nicknames or the name of a company; must include full first and last names of a natural person.

   Common mistakes: ?FI that is a trust inserts name of law firm as name of RO. Business Address Lines 1 and 2 for RO: Cannot be left blank or contain erroneous information. Cannot contain a website address. Country/Jurisdiction for RO: Cannot be left blank. Must correspond with city location. Business Telephone Number for RO: Cannot be left blank and cannot be fictitious (ex. 222-222-2222) Business Email Address for RO: Cannot be left blank or contain a comma. Use period/dot, not comma (email will be returned on messages sent by IRS to RO/POC).

   • RO first name is one or two initials, no middle name provided.
   • RO name contains title or FI name.
   • RO first, middle and last names are identical.
7. Registration Financial Institution Agreement, Signature and Certification: Certification (bottom of registration page) cannot be left blank or contain anything other than a natural person’s full name (first and last). Cannot contain the FI Legal Name.
8. In-process or Test Accounts in FATCA registration system: Do not ‘submit’ a test, fictitious or in-process account; rather leave the information in ‘initiated’ status. If “submitted”, your account will be placed into “Under Review” by IRS and therefore cannot be accessed without first contacting the IRS.

Yes, the FATCA registration system and user guide will be updated in late July 2018 to include the updated FATCA classifications in Part 1, line 4, of the revised Form 8957. All registered entities are encouraged to update their response to question 4 in the registration system.

Note: All entities that are required to complete a FATCA certification (see Draft FATCA Certifications) must update their FATCA classification (either by updating their response to question 4 or by answering the question during the certification process), including Member FIs that must certify on behalf of themselves. Also, entities that do not have a certification requirement (for example, certain Reporting Model 1 IGA FIs) should update their FATCA classification in order to avoid inapplicable certification-related notices in the future.

The table below provides the updated classifications in question 4 as they relate to the classifications from the June 2017 revision of Form 8957.

Question 4 – Financial Institution’s FATCA Classification in its Country/Jurisdiction of Tax Residence

* If you are a Nonreporting FI registering pursuant to an applicable Model 1 or Model 2 IGA, select the Registered Deemed-Compliant FFI category that most closely matches the category in Annex II of the applicable IGA for which you qualify.

If your Renewal Status is displayed as “Overdue” and your Renewal Effective Date is 01/01/2017, you may disregard the “Overdue” Renewal Status if your Registration Status is “Approved” and you have also fulfilled your FFI agreement renewal obligation, if any.

Section 12.01 of Rev. Proc. 2017-16, 2017-3 I.R.B. 501, states that the current FFI agreement expires on December 31, 2018, and may be renewed as provided in section 12.08. Section 12.08 provides that a participating FFI may renew the FFI agreement via the FATCA registration website or as otherwise provided by the IRS. Notwithstanding the provisions of section 12.08, there is no renewal action for properly registered FFIs. Rather than renewing the FFI agreement via a link on the FATCA registration website, a participating FFI that intends to renew the FFI agreement may do so by remaining registered on the FATCA registration website after December 31, 2018.

The IRS will treat a participating FFI’s continued registration as its agreement with the terms of the FFI agreement contained in Rev. Proc. 2017-16 until December 31, 2022, or the publication of another revenue procedure that supersedes all or part of Rev. Proc. 2017-16.

Accounts that have been in either 1) “Initiated” 2)“Registration Incomplete” or 3) “Under Review” status for six months or more are deemed inactive and will be placed in “Registration Rejected/Denied” status. When an account is placed in this status you still have access to your message board; however, you will not have any other available account options. If you need a GIIN and meet the criteria, complete and submit a new FATCA Registration.

If your registration status is "Agreement Terminated," it is because the IRS has identified an issue with your registration. Please review your registration message board for any messages regarding why your 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.

If an entity requires its GIIN to be reinstated, it must contact the IRS by mail or email (information provided in the events of default notice on the FATCA registration message board) to apply for reinstatement and follow the procedures outlined in the Overview of FATCA Certification Process.

A direct reporting NFFE (and a sponsoring entity of a direct reporting NFFE) is required to file a Form 8966 to declare that it has no substantial U.S. owners for the calendar year.

For additional information, please read FAQ C20 on the IDES FAQ page.

Under an FFI Agreement, the Form 8966 is due on or before March 31 of the year following the end of the calendar year to which the form relates. Under the Instructions for Form 8966, for reporting with respect to calendar year 2014 only, an automatic 90-day extension of time to file Form 8966 is provided to filers of Form 8966 (paper and electronic). This automatic extension of time is provided without the need to file any form or take any action. The Instructions for Form 8966 state that the automatic 90-day extension of time is not available for Reporting Model 2 FFIs reporting on a Non-Consenting U.S. Account. Accordingly, a filer (other than Reporting Model 2 FFIs reporting on a Non-Consenting U.S. Account) with a filing deadline of March 31, 2015, has until June 29, 2015, to submit Forms 8966.

Reporting Model 2 FFIs reporting on a Non-Consenting U.S. Account should refer to the applicable Model 2 IGA for the due dates for those filings. The IRS recognizes that FFIs will be using the IDES system for the first time and FFIs are currently testing and adapting to the new system. Therefore, with respect to calendar year 2014, Reporting Model 2 FFIs filing Form 8966 with respect to Non-Consenting U.S. Accounts will not be treated as being in significant non-compliance under their applicable Model 2 IGAs as long as such FFIs are making good faith efforts to comply with their reporting obligations and reporting is completed within 90 days after the applicable filing deadline (taking into account any other extensions already provided).

Up-to-date answers to frequently asked questions as well as links to useful information relating to using IDES is available on the IRS website at FATCA IDES Technical FAQs. Additional information can be found on the IDES support page, and sample data preparation files can be found on GitHub.

The transition relief for FFIs to obtain TINs that extended over a period ending on December 31, 2019, will be expiring with reporting for calendar year 2019. The first year a U.S. TIN will be required to be reported concerning a U.S. reportable account is with respect to the 2020 tax year, which is due to be exchanged by a FATCA Partner by September 30, 2021. However, a reporting Model 1 FFI is not required to immediately close or withhold on accounts that do not contain a TIN beginning January 1, 2020. An error notice will generate in scenarios where the TIN is missing or when the TIN is completed with nine As or 0s or in a systemically identifiable pattern (123456789, 987654321, 222222222, etc.) that indicates it is invalid. The error notice will provide 120 days to correct the issue. Consistent with the Intergovernmental Agreement (IGA) and Competent Authority Arrangement (CAA), if applicable, if the TIN is not provided within that 120 day period, the U.S. will evaluate the data received and determine through a consideration of the facts and circumstances if there is significant non-compliance. The IRS will not automatically conclude that the absence of a TIN leads to a determination of significant non-compliance. Instead, the IRS will take account of the facts and circumstances leading to the absence of the TIN, such as the reasons why the TIN could not be obtained, whether the FI has adequate procedures in place to obtain TINs and the efforts made by the FI to obtain them. If the U.S. determines that an FI is in significant non-compliance, the U.S. would notify the exchange partner and will work with the partner, to include further appropriate consideration of the facts and circumstances, over the next 18 months to address the non-compliance. The FI would have at least 18 months from the date of the notification of noncompliance to correct the TIN error before the IRS took any other further action, such as removing the FI’s Global Intermediary Identification Number from the IRS FFI List. An FFI that no longer has a valid GIIN risks being subject to withholding on certain U.S. source payments made to the FI.

Yes. In response to the COVID-19 virus, the Internal Revenue Service will provide an extension of time for a Reporting Model 2 FFI or a Participating FFI to file the FATCA Report (Form 8966) to the IRS. The filing deadline for the FATCA Report (Form 8966) will be extended from March 31, 2020 to July 15, 2020. Form 8809-I, Application for Extension of Time to File FATCA Form 8966 will not be required for this extension.

This extension will also apply to other entities (e.g., U.S. Withholding Agents or Direct Reporting NFFEs) that have a FATCA Report (Form 8966) filing deadline of March 31, 2020.

Yes. In response to the COVID-19 virus, the Internal Revenue Service will provide an extension of time for Model 1 IGA jurisdictions to provide their FATCA data for tax year 2019 to the U.S. Competent Authority. Model 1 IGA jurisdictions will have until December 31, 2020 to provide their data, although a jurisdiction may send tax year 2019 data prior to that date.

As a Model 1 FFI you are required to obtain and exchange the U.S. taxpayer identification number (TIN) data element for each specified U.S. person that is an account holder or a controlling person of a non-U.S. entity (a specified U.S. person) in accordance with the Intergovernmental Agreement (IGA) between the United States of America and your Model 1 jurisdiction.

However, in the IRS’ efforts to better understand the issues that FFIs face in obtaining a U.S. TIN, the IRS has developed a series of codes that may be used by a reporting Model 1 FFI to populate the TIN field where the TIN has not been obtained in specified scenarios. The use of these codes is not mandatory and does not mean that an FFI will not be at risk for being found significantly non-compliant due to a failure to report each required U.S. TIN. The IRS will take into account the facts and circumstances leading to the absence of the U.S. TIN, such as the reasons why the TIN could not be obtained, whether the FFI has adequate procedures in place to obtain TINs, and the efforts made by the FFI to obtain TINs. For example, whether the FFI is contacting account holders annually to request any missing TINs. The expectation is that the use of these codes will allow our tax administrations to better understand the facts and circumstances behind the missing U.S. TINs, both in general and with respect to a specific reporting Model 1 FFI. The TIN field code and related scenarios are as follows:

• 222222222 – Preexisting individual account with only U.S. indicia being a U.S. place of birth.
• 333333333 – New individual account that (1) has indicia of a U.S. place of birth, and (2) either:
  • has a change in circumstances causing the self-certification originally obtained at account opening to be incorrect or unreliable, and a new self-certification has not been obtained, or
  • was below the threshold for documenting and reporting the account at the time of account opening and subsequently exceeded the threshold, and a self-certification has not been obtained.
• 444444444 – Preexisting individual and entity account that (1) has U.S. indicia other than a U.S. place of birth, and (2) either:
  • has a change in circumstances, causing the self-certification or other documentation originally obtained to be incorrect or unreliable, and a new self-certification or other documentation has not been obtained, or
  • was below the threshold for documenting and reporting the account at the time of account opening and subsequently exceeded the threshold, and a self-certification or other documentation has not been obtained.
• 555555555 – New individual and entity account that has a U.S, indicia other than a U.S. place of birth, and (2) either:
  • has a change in circumstances causing the self-certification or other documentation originally obtained to be incorrect or unreliable, and a new self-certification or other documentation has not been obtained, or
  • was below the threshold for documenting and reporting the account at the time of account opening and subsequently exceeded the threshold, and a self-certification or other documentation has not been obtained.
• 666666666 – Preexisting entity account with account balance exceeding $1,000,000 held by a passive NFFE with respect to which no self-certifications have been obtained, and no U.S. indicia has been identified in relation to its controlling persons.
• 777777777 – For pre-existing accounts where there is no TIN available and the account has been dormant or inactive, but remains above the reporting threshold, also known as a “dormant account”. For reference, the U.S. defines “dormant account” in U.S. Treasury Regulations §1.1471-4(d)(6)(ii).

In January 2023, the IRS issued Notice 2023-11 which provides reporting relief to Model 1 FFIs who have been unable to obtain U.S. TINs for their pre-existing accounts that are U.S. reportable accounts if they follow the procedures in the Notice. As a result of the Notice, the IRS has updated the above series of TIN codes. Reporting for calendar year 2022 (due by September 30, 2023) is considered to be a transition year, and to be eligible for relief Model 1 FFIs must either use the TIN codes issued in May 2021 or the following updated TIN codes. For reporting on calendar years 2023 (due by September 30, 2024) and 2024 (due by September 30, 2025), a reporting Model 1 FFI must use the following updated codes that identify features of these accounts that may explain why the reporting Model 1 FFI cannot report a U.S. TIN. The use of these codes will allow the IRS to better understand the facts and circumstances behind the missing U.S. TINs. The updated TIN field code and related scenarios are as follows:

• 222222222 Preexisting individual account with only U.S. indicia being a U.S. place of birth, other than an account reported under code 000222111. This code takes precedence if any other code (other than 000222111) could also be applicable.
• 000222111 Preexisting depository individual account with only U.S. indicia being a U.S. place of birth. Additionally, FFI must determine that the account holder is a resident of the jurisdiction where the account is maintained for AML and tax purposes. For reference, “depository account” has the meaning defined in the applicable Model 1 Intergovernmental Agreement (Model 1 IGA). This code takes precedence if any other code could also be applicable.
• 333333333 New individual account that:
  • has indicia of a U.S. place of birth, and
  • either:
    • has a change in circumstances causing the self-certification originally obtained at account opening to be incorrect or unreliable, and a new self-certification has not been obtained, or
    • was below the threshold for documenting and reporting the account at the time of account opening and subsequently exceeded the threshold, and a self-certification has not been obtained.
• 444444444 Preexisting individual or entity account that:
  • has U.S. indicia other than a U.S. place of birth, and
  • either:
    • has a change in circumstances that either results in one or more U.S. indicia being associated with the account or causes a self-certification or other documentation originally obtained to be incorrect or unreliable, and a valid self-certification or other documentation has not been obtained subsequent to the change in circumstances, or
    • was below the threshold for documenting and reporting the account on the determination date provided in the applicable Model 1 IGA and subsequently exceeded the threshold, and a self-certification or other documentation has not been obtained.

• 555555555 New individual or entity account that:
  • has a U.S. indicia other than a U.S. place of birth, and
  • either:
    • has a change in circumstances causing the self-certification or other documentation originally obtained to be incorrect or unreliable, and a new self-certification or other documentation has not been obtained, or
    • was below the threshold for documenting and reporting the account at the time of account opening and subsequently exceeded the threshold, and a self-certification or other documentation has not been obtained.
• 666666666 Preexisting entity account held by a passive NFFE with one or more controlling persons with respect to which self-certifications have not been obtained, and no U.S. indicia have been identified in relation to any controlling persons.
• 777777777 Dormant Accounts – For pre-existing accounts where there is no TIN available and the account has been dormant or inactive, but remains above the reporting threshold, also known as a “dormant account.” A “dormant account” is one that meets the definition set out in U.S. Treasury Regulations §1.1471-4(d)(6)(ii) and had had no financial activity for three years, except for the posting of interest. If an account could be classified into multiple TIN codes, the other code takes precedence.
• 999999999 Any account for which the FFI cannot obtain a TIN and none of the other TIN codes would be applicable. The use of this code indicates that an FFI has completed its review of accounts without U.S. TINs and has in good faith applied TIN codes to records when applicable.

The IRS system will still generate an error notification to indicate the entry is invalid when one of the above codes is used. The error notification will provide 120 days to correct the issues, which is consistent with Paragraph 4.2.2 “Administrative or Other Minor Errors” of the Competent Authority Arrangement (CAA). Consistent with the IGA (and the CAA, if applicable), if the TIN is not provided within that 120-day period, the U.S. will evaluate the data received (including whether the reporting Model 1 FFI complies with the conditions set forth in Notice 2013-11) and whether there is significant non-compliance based on the facts and circumstances. (See Reporting FAQ #3 for a full discussion of the significant non-compliance process.)

The Responsible Officer listed on line 10 of Form 8957 (or the online registration system) can authorize a POC to receive FATCA-related information regarding the FI, and to take other FATCA-related actions on behalf of the FI. While the POC must be an individual, the POC does not need to be an employee of the FI. For example, suppose that John Smith, Partner of X Law Firm, has been retained and been given the authority to help complete and submit the FATCA Registration on behalf of an FI. John Smith should be identified as the POC, and in the Business Title field for this POC, it should state Partner of X Law Firm.

No, it is not required that the Responsible Officer (“RO”) be the same person for all lines on Form 8957 or the online registration. It is possible, however, that the same person will have the required capacity to serve as the RO for all FATCA Registration purposes.

The term “RO” is used in several places in the FATCA Registration process. In determining an appropriate RO for each circumstance, the Financial Institution (“FI”) or direct reporting NFFE should review the capacity requirements and select an individual who meets those requirements. This will be a facts and circumstances determination.

Please note that the responsible officer used for registration purposes may differ from the certifying responsible officer of an FFI referenced in Treasury Regulation §1.1471-1(b)(116). (See, however, below regarding “Delegation of RO Duties.”)

Below is a description of the required RO capacity per line:

Part 1, Question 10 (FATCA RO for the Financial Institution)

Language from the Form 8957 Instructions and the FATCA Online Registration User Guide specifies that the RO for question 10 purposes is a person authorized under applicable local law to establish the statuses of the entity's home office and branches as indicated on the registration form. (See FAQ below for what it means to "establish the FATCA statuses" of the FI's home office and branches or direct reporting NFFE.)

Part 1, Question 11b (Point of Contact authorization)

The RO identified in question 11b must be an individual who is authorized under local law to consent on behalf of the FI or direct reporting NFFE (“an authorizing individual”) to the disclosure of FATCA-related tax information to third parties. By listing one or more Points of Contact (each, a “POC”) in question 11b and selecting “Yes” in question 11a, the authorizing individual identified at the end of question 11b (to the right of the checkbox) is providing the IRS with written authorization to release the entity’s FATCA-related tax information to the POC. This authorization specifically includes authorization for the POC to complete the FATCA Registration (except for Part 4), to take other FATCA-related actions, and to obtain access to the FI’s (or direct reporting NFFEs) tax information. Once the authorization is granted, it is effective until revoked by either the POC or by an authorizing individual of the FI or direct reporting NFFE.

Part 4

The authority required for an individual to be an RO for purposes of Part 4 is substantially similar to the authority required for RO status under Treas. Reg. § 1.1471-1(b)(116).

The RO designated in Part 4 must be an individual with authority under local law to submit the information provided on behalf of the FI or direct reporting NFFE. In the case of FIs or FI branches not governed by a Model 1 IGA, this individual must also have authority under local law to certify that the FI meets the requirements applicable to the FI status or statuses identified on the registration form. This individual must be able to certify, to the best of his or her knowledge, that the information provided in the FI’s or direct reporting NFFE’s registration is accurate and complete. In the case of an FI, the individual must be able to certify that the FI meets the requirements applicable to the status(es) identified in the FI’s registration. In the case of a direct reporting NFFE, the individual must be able to certify that the direct reporting NFFE meets the requirements of a direct reporting NFFE under Treas. Reg. § 1.1472-1(c)(3).

An RO (as defined for purposes of Part 4) can delegate authorization to complete Part 4 by signing a Form 2848 “Power of Attorney Form and Declaration of Representative” or other similar form or document (including an applicable form or document under local law giving the agent the authorization to provide the information required for the FATCA Registration).

Note: While the certification in Part 4 of the online registration does not include the term “responsible officer,” the FATCA Online Registration User Guide provides that the individual designated in Part 4 must have substantially the same authority as the RO as defined for purposes of Form 8957, Part 4.

Delegation of RO Duties

While the ROs for purposes of Question 10, Question 11b, and Part 4 of the FATCA Registration may be different individuals, in practice it will generally be the same individual (or his/her delegate)). The regulatory RO is responsible for establishing and overseeing the FFI’s compliance program. The regulatory RO may, but does not necessarily have to, be the registration RO for purposes of 1) ascertaining and completing the chapter 4 statuses in the registration process; 2) receiving the GIIN and otherwise interacting with the IRS in the registration process; and 3) making the Part 4 undertakings. Alternatively, the regulatory RO, or the FFI (through another individual with sufficient authority), may delegate each of these registration roles to one or more persons pursuant to a delegation of authority (such as a Power of Attorney) that confers the particular registration responsibility or responsibilities to such delegate(s). The scope of the delegation, and the delegate’s exercise of its delegated authority within such scope, will limit the scope of the potential liability of the delegate under the rules of agency law , to the extent applicable. The ultimate principal, whether that is the regulatory RO or the FFI, remains fully responsible in accordance with the terms and conditions reflected in the regulations, and other administrative guidance to the extent applicable under FATCA, the regulations

To have the authority to “establish the statuses” for purposes of question 10, an RO must have the authority to act on behalf of the FI to represent the FATCA status(es) of the FI to the IRS as part of the registration process. This RO must also have the authority under local law to designate additional POCs.

Yes, the FI or direct reporting NFFE may employ an outside organization to assist with FATCA registration and discontinue the relationship with the outside organization once registration is complete. As part of the registration process, an FI or direct reporting NFFE may appoint up to five POCs who are authorized to take certain FATCA-related actions on behalf of the entity, including the ability to complete all parts of the FATCA Registration (except for Part 4), to take other appropriate or helpful FATCA-related actions, and to obtain access to the entity’s FATCA-related tax information. The POC authorization must be made by an RO within the meaning of Part 1, question 10. Part 4 must be completed by the RO or a duly authorized agent of the RO. (See FAQ 1 for a discussion of the process for delegating authorization to complete Part 4.)

Once the services of a POC are no longer needed, the RO may log into the online FATCA account and delete the POC. This process revokes the POC’s authorization. At this point, the Responsible Officer can input a new POC, or leave this field blank if they no longer wish to have any POC other than the RO listed on Line 10.

If a third-party adviser that is an entity is retained to help the FI or direct reporting NFFE complete its FATCA registration process, the name of the third-party individual adviser that will help complete the FATCA registration process should be entered as a POC in Part 1, question 11b, and the “Business Title” field for that individual POC should be completed by inserting the name of the entity and the POC’s affiliation with the entity. For example, suppose that John Smith, Partner of X Law Firm, has been retained and been given the authority to help complete the FATCA Registration on behalf of FI Y. John Smith should be identified as the POC, and in the Business Title field for this POC, it should state Partner of X Law Firm.

With respect to a PFFI, an RO is an officer of the FFI (or an officer of any Member FI that is a PFFI, Reporting Model 1 FFI or Reporting Model 2 FFI) with sufficient authority to fulfill the duties of a Responsible Officer described in a FFI Agreement.

With respect to a PFFI that elects to be part of a consolidated compliance program, an RO is an officer of the Compliance FI with sufficient authority to fulfill the duties of a Responsible Officer described in the FFI Agreement on behalf of each FFI in the compliance group (regardless of whether the FFI is a Limited FFI or treated as a Reporting Model 1 FFI or Reporting Model 2 FFI).

With respect to a RDCFFI, other than a RDCFFI that is a Reporting Model 1 FFI, an RO is an officer of the FI (or an officer of any Member FFI that is a PFFI, Reporting Model 1 FFI, or Reporting Model 2 FFI) with sufficient authority to ensure that the FFI meets the applicable requirements to be treated as a RDCFFI.

With respect to a Reporting Model 1 FFI, an RO is any individual specified under local law to register and obtain a GIIN on behalf of the FFI. If, however, the Reporting Model 1 FFI operates any branches outside of a Model 1 IGA jurisdiction, then the RO identified must be an individual who can satisfy the requirements under the laws of the Model 1 IGA jurisdiction and the requirements relevant to the registration type selected for each of its non-Model 1 IGA branches.

With respect to a Limited FFI, an RO is an officer of the Limited FFI (or an officer of any Member FI that is a PFFI, Reporting Model 1 FFI, or Reporting Model 2 FFI) with sufficient authority to ensure that the FI meets the applicable requirements to be treated as a Limited FFI.

With respect to a USFI that is registering as a “Lead FI”, an RO is any officer of the FI (or an officer of any Member FI) with sufficient authority to register its Member FIs and to manage the online FATCA accounts for such members.

By checking this box, I, _________, [(the responsible officer or delegate thereof (herein collectively referred to as the “RO”)], certify that, to the best of my knowledge, the information submitted above is accurate and complete and I am authorized to agree that the Financial Institution (including its branches, if any) will comply with its FATCA obligations in accordance with the terms and conditions reflected in regulations, intergovernmental agreements, and other administrative guidance to the extent applicable to the Financial Institution based on its status in each jurisdiction in which it operates.

* Note: Part 4 of Form 8957 contains a substantially similar certification.

Your FATCA registration must always be updated with the current name and email address of your responsible officer and point of contact(s) as soon as there is a change.

When you complete a FATCA registration, you are asked to include the name and contact information of (1) a responsible officer (“RO”) and (2) a point of contact (“POC”). Specifically, among other information, you must provide their mailing and email addresses as well as their telephone numbers.

The RO and POC information provides the IRS with the name and contact information of persons with whom they will communicate for reasons including but not limited to certifications, general inquiries and other FATCA compliance purposes. You are responsible for ensuring that you can receive email and message notifications from the IRS.

The IRS will send notices to your registration system message board for the reasons noted above and to give you a notification of potential actions to be taken on your account. Your RO will also receive an email notification when the IRS has sent a notice to your message board. It is your responsibility to make sure that you receive and review any messages sent to your message board and to ensure that your RO’s email address is accurate.

Follow the instructions to use the template entitled Request for additional extension of time to file Form 8966 for tax year 2014 PDF. The deadline for submitting your request is June 29, 2015. Note: You must submit a separate request for each filer (for example, if you are requesting an additional extension of time to file Form 8966 both on behalf of yourself and with respect to reporting on behalf of a sponsored entity, you must submit two requests). Further, for tax year 2014 only, an additional 90-day extension of time will be automatically approved for eligible filers who submit a request. You will not receive a response from the IRS.

Follow the instructions to use the template entitled Request for Waiver From Filing Form 8966 Electronically for Tax Year 2014 PDF. The deadline for submitting your request is August 13, 2015. However, if you need an additional extension of time to file, you must submit a separate request for the extension by June 29, 2015. Note: You must submit a separate request for each filer (for example, if you are requesting a waiver from electronic filing of Form 8966 both on behalf of yourself and with respect to reporting on behalf of a sponsored entity, you submit two requests). Further, if you do not receive a response from the IRS within 45 days of the date you mail your request, you may treat the request as granted.

The Sponsoring Entity that agrees to perform the due diligence, withholding, and reporting obligations of one or more Sponsored Entities pursuant to Treas. Reg. §1.1471-5(f)(1)(i)(F) should register with the IRS via the FATCA registration website to be treated as a Sponsoring Entity. To allow a Sponsoring Entity to register its Sponsored Entities with the IRS, the Sponsoring Entity must register its Sponsored Entities using the FATCA registration website see FATCA Online Registration User Guide for additional instructions on how to add Sponsored Entities.

While a Sponsoring Entity is required to register its Sponsored Entities for those entities to obtain GIINs, the temporary and proposed regulations provide a transitional rule that, for payments prior to January 1, 2016, permit a Sponsored Entity to provide the GIIN of its Sponsoring Entity on withholding certificates if it has not yet obtained a GIIN. Thus, a Sponsored Entity does not need to provide its own GIIN until January 1, 2017 and is not required to register before that date.