Luxembourg: Implementation of TIN field instructions for FATCA reporting purposes

Implementation of updated provisions related to the tax identification number field for FATCA reporting purposes

Implementation of TIN field instructions for FATCA reporting purposes

The Luxembourg tax authority issued a newsletter about the implementation of updated provisions related to the tax identification number (TIN) field for FATCA reporting purposes. Read TaxNewsFlash

According to the newsletter, it is now possible to apply the provisions introduced by the Internal Revenue Service (IRS) through the International Compliance Management Model (ICMM) for FATCA reporting purposes.

For further information, see the "Populating the TIN Field" section of the “frequently asked questions” (FAQs), which introduces the possibility of populating the TIN field of a passive non-financial entity with a foreign TIN or, in its absence, with the code “NA”.

The tax authority reminds reporting financial institutions that these provisions need to be used in conjunction with the instructions and do not replace them.

Read an April 2022 report [PDF 445 KB] prepared by the KPMG member firm in Luxembourg

 

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