Singapore: Updated FATCA guidance and FAQs

Singapore: Updated FATCA guidance and FAQs

The Inland Revenue Authority of Singapore (IRAS) updated guidance and a set of “frequently asked questions” (FAQs) concerning the FATCA regime.


The updated guidance concerns the third version of the “IRAS Supplementary XML Schema User Guide for Preparing the FATCA Reporting Data File.”

The updated FAQs clarify:

  • Relief provided with regard to U.S. reportable accounts for pre-existing accounts for reporting years 2017, 2018, and 2019
  • The treatment for reporting Singapore financial institutions with U.S. reportable accounts when the reporting Singapore financial institution is unable to obtain the U.S. taxpayer identification numbers (TINs)

Read an April 2021 report [PDF 85 KB] prepared by the KPMG member firm in Singapore

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