Australia: Additional default TIN under FATCA regime

New code to the series of default TINs developed by the U.S. tax agency

New code to the series of default TINs developed by the U.S. tax agency

The Australian Taxation Office (ATO) announced a new code to the series of default taxpayer identification numbers (TINs) developed by the U.S. tax agency (IRS).

The new code is for a pre-existing account when no TIN is available and the account has been dormant or inactive, but remains above the reporting threshold.

The ATO previously released a list of default TINs that financial institutions could use to identify for missing TINs—read TaxNewsFlash. Therefore, this update provides an additional default TIN that was not previously available.

Read an April 2021 report [PDF 102 KB] prepared by the KPMG member firm in Australia

 

 

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