U.S.A.: IRS updates the FATCA Registration System

10.08.2018

Clearstream Banking would like to inform customers that the IRS has updated the Foreign Tax Compliance Act (FATCA) Registration System. The updates enable amongst others:

  • The submission of the certification of pre-existing accounts (COPA) and the periodic certification
  • The input of the FATCA classification, which is:
    • Mandatory for entities that have a certification requirement
    • Recommended for entities that do not have a certification requirement, in order to avoid receiving inapplicable certification notifications from the IRS.

More information on the subject may be found in the information on the IRS Website.

We continue to monitor the situation and will provide further information as it becomes available.

This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A. its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice.