IRS updates on FATCA schema, FATCA reports | KPMG | US
Share with your friends

United States: FATCA schema, FATCA report guidance updates

FATCA schema, FATCA reports

The IRS today issued a release concerning the FATCA regime.


Related content

According to the IRS release (2016-15), the FATCA XML Schema v2.0 user guide draft (Publication 5124) provides updated business rules and technical information for creating FATCA reports based on the FATCA XML schema. Beginning January 2017, the FATCA XML Schema v1.1 will no longer be supported and will be replaced by v2.0. 

The IRS also reported that FATCA XML Schema v2.0 and FATCA report samples have been updated with minor changes. The schema is subject to change and is not intended for use in production until January 2017.

© 2018 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal