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Australia: New validation rules under FATCA

Australia: New validation rules under FATCA

The Australian Taxation Office (ATO) announced the addition of two new validation rules to the FATCA service for reporting financial institutions.


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The new rules include:

  • If sponsor details are provided, the reporting financial institutions taxpayer identification number (TIN) has to be provided in a global intermediary identification number (GIIN) format and the reporting financial institutions TIN issued by attribute must be set to either ‘US’ or left blank
  • If sponsor details are not provided, the reporting financial institutions filer category code must be set to FATCA602.

Additionally, the updated code will be deployed to the external vendor testing environment (EVTE). The code will published on the standard business reporting (SBR) website on 18 July 2019 and on the production environment on 30 July 2019.

Read a July 2019 report [PDF 65 KB] prepared by the KPMG member firm in Australia

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