Australia - From 2020 onwards the U.S. TIN needs to be submitted in the FATCA reports
The Australian Taxation Office (“#ATO”) informed on her FATCA News and updates website that for the #FATCA “reports submitted for the 2020 calendar year onwards, the U.S. Internal Revenue Service ("IRS") requires a U.S. #TIN be provided for each individual reported.”
ATO stated further, that for non-U.S. entities, the U.S. TIN of controlling persons that are U.S specified persons needs to be transmitted in the FATCA report.
About the Author
Marco is a banker and holds degrees as MBA (finance and accounting) and LLM (international tax law and business law).
He offers 30+ years of working experiences achieved within the operations, international tax and compliance environment gained in leading Commercial Banking Institutions, Private Banking Institutions, Wealth Management Organisations and Financial Service Provider located in Europe and the APAC Region.
Marco is focused on advisory services and project management in the field of
AEoI, FATCA, EU-DAC6, OECD-CRS;
U.S Qualified intermediary regime (QI); and
Austrian, German, Hong Kong, Swiss and U.S. International Tax Law