IRS publishes additional FAQs on RO Certifications

7. August 2018

FATCA Certifications
In the newly published FAQ #13 on FATCA certifications, the IRS confirmed that FATCA certifications for the certification period ending December 31, 2017 are generally due no later than December 15, 2018. This deadline applies to all Foreign Financial Institutions, irrespective of the calendar year, which they have selected for their certification.

Furthermore, the IRS released an updated version of the FATCA Online Registration User Guide (Publication 5118), containing detailed instructions for the certifications.

QI Certifications
Qualified Intermediaries are required to login to the QI portal before 1 September 2018 to

submit their QI certification (incl. an application for a waiver from the periodic review requirement, where eligible); or
confirm 2017 as the periodic review year in order to update the due date for the QI certification to March 1, 2019.

The new FAQs can be found under https://www.irs.gov/businesses/corporations/frequently-asked-questions-faqs-fatca-compliance-legal.