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United States: FATCA certification deadline is 15 December 2018

FATCA certification deadline is 15 December

The IRS today issued a reminder that for the certification period ending 31 December 2017, FATCA certifications are due no later than 15 December 2018. However, for trustees of trustee-documented trusts and sponsoring entities, the deadline is 31 March 2019.

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The IRS transmittal message clarifies that an entity that is required to certify but does not submit its certifications by the due date, will not be in compliance with its obligations under FATCA. The consequences of being non-compliant may include the revocation of an entity’s FATCA status and, ultimately, the entity’s global intermediary identification number (GIIN) being removed from the foreign financial institution (FFI) list.

 

The IRS issued an updated message on 3 December 2018.

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