Responsible Office Reporting

By Dave Olenzak. President and Founder of TWC.

The IRS FATCA certification requires Periodical Certification of all Financial Institutions that are in countries that are either Model 2 Inter Governmental Agreement (IGA) or Financial Institutions that are not covered by an IGA. The Responsible Officer is required to attest to the accuracy of their company’s FATCA reporting. The US IRS has issued a FATCA reminder that Periodic Certification will be due shortly. “Reminder: For the FATCA Certification Period Ending December 31, 2019 Responsible Officer Certifications are due by December 15, 2020.”

If you need to complete a FATCA Periodic Certification goto: https://sa.www4.irs.gov/fatca-rup/reg/login/userLogin.do. Your user ID is the first six alpha numeric characters in your GIIN. The password would be the one used when setting up your GIIN.

Once logged into your account at the lower left hand corner there will be an option under “Available Account Options” an option for “Periodic Certification”. This will begin a Wizard that will walk you through the questionnaire.

Failure to certify your account can result in the revocation of your GIIN registration and subsequent withholding of 30% of any US FDAP income.

At Trans World Compliance, we can help with your FATCA and CRS reporting. Please contact sales@transworldcompliance.com with any questions.