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United States: FATCA updated classifications; pre-existing account and periodic certifications

United States: FATCA updated classifications

The IRS today issued a release announcing that the FATCA registration system will be upgraded “in the coming weeks” and advising all FATCA-registered entities to login and update their FATCA classification once the update occurs.


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As noted in an IRS transmittal message, the following features will be added to the FATCA registration system as part of this upgrade.

  • Existing FATCA classification choices updated
  • Certification of pre-existing accounts (COPA)
  • Periodic certification 

The IRS urged entities to verify their login credentials are valid for entering the system to submit their certifications. After the system upgrade occurs, registered entities will be notified by email to check their account message boards.  

The IRS release includes a table listing the updated FATCA classifications and whether those classifications are required to complete COPA and periodic certifications.

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