Luxembourg: New codes for unknown U.S. TINs

Luxembourg: New codes for unknown U.S. TINs

The Luxembourg tax authority issued a newsletter regarding the introduction of new codes by the U.S. tax authority (IRS) to be used for unknown U.S. tax identification numbers (TINs) while making FATCA declarations.

  • The codes were developed in an effort to acknowledge the reasons provided by a financial institution unable to collect U.S. TINs.
  • Use of these codes is not mandatory for Luxembourg reporting financial institutions, but are recommended to be used with the next FATCA declaration submission for the 2020 fiscal year. The deadline for the FATCA reporting is 30 June 2021. 
  • When the TIN is not known and is not covered by any of the new codes, the use of code #NTA001# is required.
  • When a reporting financial institution with unknown TINs does not want to apply these new codes, code #NTA001# must be used.
  • A Luxembourg reporting financial institution will receive an error notification from the IRS due to the absence of a U.S. TIN. The financial institution needs to communicate the reason for any unknown U.S. TINs within 120 days of receiving the notification, or be subject to a finding of significant non-compliance.

Read an April 2021 report [PDF 82 KB] prepared by the KPMG member firm in Luxembourg

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