JUNE 3, 2014
A new service has been added to the Foreign Account Tax Compliance Act's (FATCA) website.
FATCA is a federal law that directs United States Persons (citizens, domestic partnerships, domestic corporations, any estate), including those living outside of the U.S., to report any financial accounts held outside of the U.S. to the Internal Revenue Service. It also requires foreign financial institutions to report to the IRS about their U.S. clients.
The FATCA website's Frequently Asked Question (FAQ) page now includes one new question and answer. The FAQ page includes questions and answers on topics such as IGA Registration, Sponsoring/Sponsored Entities, Exempt Beneficial Owners, and more.
The new FAQ question and answer informs users what to do if their FATCA registration has been put into "Registration Under Review" status.
You can find the FATCA FAQ page here.