U.S.A.: FATCA : IRS opens registration portal and releases Form 8957
The U.S. Internal Revenue Service (IRS) has today made available the online registration portal for Financial Institutions (FIs) to register for FATCA compliance.
The address of the portal is https://sa1.www4.irs.gov/fatca-rup/login/userLogin.do
A FATCA online registration user guide can be found under http://www.irs.gov/pub/irs-utl/froug.pdf
For the period of opening of the FATCA registration website through 31 December 2013, an FI will be able to access its online account to modify or add registration information, including appropriate registration status as such status is established or modified, for example, by the signing of an Intergovernmental Agreement (IGA).
Before 1 January 2014, however, any information entered in the system, even if submitted as final by the website user, will not be regarded as a final submission, but merely stored until the information is submitted as final on/after 1 January 2014.
On/after 1 January 2014, each FI will be expected to finalise its registration information by logging into its online account on the FATCA registration website, making any necessary additional changes and submitting the information as final.
Together with the opening of the online registration portal, the IRS has released FATCA Registration Form 8957 (attached below) and its instructions (also attached below). This form can be used to submit the FI’s registration application to the IRS, but not earlier than 1 January 2014. The IRS, however, strongly encourages FIs to apply online via the FATCA portal.
We continue to monitor the implementation of FATCA and will provide more information as it becomes available.
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