FATCA exchange system, reports, test session | KPMG | GLOBAL

United States: FATCA exchange system, reports, test session

FATCA exchange system, reports, test session

The IRS today issued a release that reports:

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  • The FATCA International Data Exchange Service (IDES) will be unavailable from 13 January 2017 until 15 January 2017. 
  • Beginning 16 January 2017, all FATCA reports (new, nil, corrected, void and amended) must be created using the FATCA XML schema version 2.0.
  • The FATCA test session will remain open from 19 December 2016 to 30 January 2017.

 

Read the IRS release.

Separately, the IRS also reported the following:

  • The IRS has revised several FATCA Report sample files using FATCA XML Schema v2.0. The revised samples include a test packet, void, amended and corrected files and digital signatures. Read the IRS release
  • The IRS will launch a new Qualified Intermediary (QI), Withholding Foreign Partnership (WP) and Withholding Foreign Trust (WT) system allowing these entities to manage their information online. Read the IRS release

 

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