Germany: Update about FATCA XML schema v2.0, online portal

Germany: Update about FATCA XML schema v2.0

Germany’s federal tax office released a newsletter—Infobrief FATCA 05/2016 (18 November 2016)—providing information to financial institutions and foreign service providers about an IRS notification regarding the FATCA XML schema v2.0.

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According to the newsletter, German financial institutions will be required to use FATCA XML schema v2.0 to report submissions beginning 1 January 2017 and later. Also, it is reported that the German online portal (BOP) will be closed beginning 1 January 2017 until June 2017 to allow for upgrades. The online portal will not be accepting reports for any reporting year through ELMA interface or manual form submission. The deadline for reporting submissions is being extended by one month to 31 August 2017.

 

Read a November 2016 report [PDF 90 KB] prepared by the KPMG member firm in Germany

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