FATCA Period Certification

FATCA Period Certification

The US Inland Revenue Service (IRS) on May 25, 2021 released a reminder that Responsible Officer (RO) certifications are due by 1 July 2021 for the FATCA certification period ending 31 December 2020.

Financial Institutions located in IGA-2 Jurisdictions and Participating Foreign Financial Institutions (PFFI)  are required to certify.

Entities not submitting its certification(s) by the due date, will not be in compliance with its FATCA obligations.

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 (FAQ FATCA Certification Question 13).

Please refer to the FATCA News and Information under the link below https://bit.ly/3p1F8tz

 

 

 

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