Is Anyone at the IRS Reinstating GIINs?
Financial Institutions (FIs) around the world find themselves with terminated FATCA accounts. As a result their Global Intermediary...
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Elizabeth A. McMorrow
- Apr 25, 2022
FATCA: Reversing Agreement Terminated Status
Certain entities may register in the IRS FATCA portal and, upon registration approval, receive a Global Intermediary Identification...
Elizabeth A. McMorrow
- Mar 23, 2022
IRS Adds New FAQ on FATCA Certifications
On March 23, 2022, the U.S. Internal Revenue Service (IRS) posted a new question and answer on its FATCA – FAQs General site: Q22. How do...
Elizabeth A. McMorrow
- Dec 8, 2020
RO Certs Due December 15, 2020
The IRS issued a reminder today re: FATCA RO certifications. "For the certification period ending December 31, 2019 (generally entities...
Elizabeth A. McMorrow
- Aug 26, 2020
FATCA: Mandatory Certification for GIIN Deregistration
The deregistration of an entity from the IRS FATCA portal may be necessary as a result of the sale, liquidation or other termination of...
Elizabeth McMorrow
- Apr 29, 2020
IRS Extends FATCA RO Certification Deadline
The IRS announced today that it is granting an automatic extension of time to submit FATCA Responsible Officer (RO) certifications for an...
Elizabeth A. McMorrow
- Nov 20, 2019
FATCA & Privacy Year End Is Upon Us
Given that the departments usually handling FATCA, CRS and GDPR are swamped with a variety of other year-end tasks, this post may not be...
Elizabeth A. McMorrow
- Jun 4, 2019
FATCA: Add a Click to Deregistration
Your Foreign Financial Institution (FFI) has been sold or dissolved. You remember to cancel the FFI’s IRS FATCA portal registration. ...
Elizabeth A. McMorrow
- Feb 18, 2019
FATCA: Stay in RO Certification Mode
Check your FATCA account in box and you will discover that the second Responsible Officer (RO) FATCA certification season is already upon...
Elizabeth A. McMorrow
- Dec 20, 2018
FATCA: Deregister Now & Avoid 2020 Reporting
If you sell, liquidate or otherwise terminate a Reporting Foreign Financial Institution (FFI) by December 31, 2018, now is the time to...
Elizabeth A. McMorrow
- Nov 12, 2018
New IRS FATCA Compliance Campaign High Risk Areas
The IRS Large Business and International division (LB&I) recently announced five new compliance campaigns including a FATCA compliance...
Elizabeth A. McMorrow
- Oct 29, 2018
FATCA: July 22 Deregistration Cut-Off
At recent conferences IRS staff announced a change in certification requirements that has not yet been added to the IRS FATCA FAQs. ...
Elizabeth A. McMorrow
- Aug 7, 2018
FATCA: Mandatory Contract between Sponsored & Sponsoring Entities
To comply with FATCA regulations, each Sponsored Entity must enter into a written agreement with its Sponsoring Entity. The Sponsoring...
Elizabeth A. McMorrow
- Jul 25, 2018
IRS FATCA Certification Deadline Is December 15, 2018
The IRS implemented its online FATCA certification process and sent out messages to registered financial institutions this week. Check...
Elizabeth A. McMorrow
- Jul 11, 2018
FATCA: Sub-Certifications as Part of FATCA Compliance
In anticipation of the IRS implementing its online FATCA certification process, now is the time to consider internal FATCA...
Elizabeth A. McMorrow
- Jun 12, 2018
FATCA: USFIs & Foreign Grantor / Non-Grantor Trusts' Mandatory IRS Certs
The first round of IRS compliance certifications begins this summer. The current deadline is likely October 2018: 90 days after the IRS...
Elizabeth A. McMorrow
- May 31, 2018
FATCA: Who Needs to File a Mandatory Certification with the IRS?
The first round of IRS compliance certifications begins this summer. The certification process was supposed to have started last summer...
Elizabeth A. McMorrow
- Nov 8, 2017
FATCA: Responsible Officer Basics
FATCA vocabulary has become second nature to those of us actively working on FATCA-related issues. However, clients and newcomers to the...
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