top of page
Search
  • Elizabeth A. McMorrow

FATCA: The IRS Extends FFI Agreement Registration Renewal Deadline

A Foreign Financial Institution (FFI) that seeks to renew its FFI agreement must do so prior to October 24, 2017. The deadline had previously been July 31, 2017.

The effective date of an FFI Agreement is the date on which the IRS issues a Global Intermediary Identification Number (GIIN) to the FFI. FFIs that have already entered into an FFI Agreement must renew their FFI Agreements in the FATCA portal.

If the FFI completes its renewal by October 24, 2017 and it is in compliance with the new FFI Agreement since January 1, 2017, then the FFI’s renewal will be “backdated” to January 1, 2017.

However, an FFI that does not renew its FFI agreement by October 24, 2017, will be treated as having terminated its FFI agreement on January 1, 2017. The FFI’s registration status will be changed to “incomplete” and the FFI’s GIIN will no longer appear on the IRS’s monthly FFI List as of November.

For additional information on this topic including how to determine if you must renew, please see my earlier blog posts:


For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com.

#FATCA #FFIAgreement #PFFI #Model2IGA

Recent Posts

See All

The Bahamas Competent Authority announced the FATCA and Common Reporting Standard (CRS) portal will open for FATCA and CRS registration and submissions on Friday, July 14, 2023 at 9 AM ET. The portal

Guernsey Revenue Service issued a bulletin covering upcoming FATCA and Common Reporting Standard (CRS) deadlines and requirements. Mandatory Registration for All FIs Any Guernsey financial institution

The U.S. Internal Revenue Service (IRS) updated the tax identification number (TIN) codes to be used in Y2022 FATCA reporting when certain Model 1 Foreign Financial Institutions (FFIs) have been unabl

bottom of page