Wednesday, April 15, 2020

FATCA News & Information

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FATCA News & Information April 15, 2020

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Issue Number:  2020-2

Inside This Issue


  1. Procedures for FATCA Certification Event of Default Notices
  2. New FAQ on FATCA registration statuses changed to Agreement Terminated

1.  Procedures for FATCA Certification Event of Default Notices

IRS publishes "Procedures for FATCA Certification Event of Default Notices" which describes Foreign Payments Practice's (FPP) process for addressing noncompliance with the FATCA certification requirements. These procedures outline the Event of Default Notice timeline, the request for reconsideration process, the appeals process, and remediation plan guidance.

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2.  New FAQ on FATCA registration statuses changed to Agreement Terminated

IRS publishes a new FATCA FAQ related to registration statuses changed to "Agreement Terminated". See new FAQ 18 in the Registration Update category on the FATCA FAQs General page.

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