The IRS today issued a release concerning the FATCA regime.
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.
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