The IRS today issued a reminder that FATCA registration must always be updated with the current name and email address of the responsible officer and point of contact(s) as soon as there is a change.
As noted in the IRS transmittal message, when a FATCA registration is completed, the name and contact information of (1) a responsible officer and (2) a point of contact must be included and must specifically provide their mailing and email addresses as well as their telephone numbers. These persons will be with whom the IRS will communicate (such as about certifications, general inquiries and other FATCA compliance purposes). The IRS will send notices to a registration system message board and will provide a notification of potential actions to be taken. The responsible officer will also receive an email notification when the IRS has sent a notice to the message board. Financial institutions must make sure that they receive and review any messages sent to a message board and must determine that the email address of the responsible officer is accurate.
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