Not all Financial Institutions report directly to the IRS. Your reporting workflow depends on whether your jurisdiction follows Model 1 or Model 2 IGA.
| Feature | FATCA Model 1 (IGA) | FATCA Model 2 |
|---|---|---|
| Reporting Destination | Local Tax Authority (e.g., CBDT in India, HMRC in UK) |
Directly to US IRS (via IDES Gateway) |
| Data Transmission | The Local Authority exchanges data with the IRS on your behalf. | The Financial Institution (FI) sends data directly to the IRS. |
| Typical Deadline | May - September (Varies by local country rules) |
March 31st (Fixed IRS Deadline) |
| File Format & Security | Local XML Schema (May require local digital signature/encryption) |
IRS FATCA XML v2.0.1 (Requires IDES AES-256 Encryption) |
| Key Examples | India UK Singapore Cayman | Switzerland Japan Hong Kong |
Under a Model 1 Intergovernmental Agreement (IGA), Foreign Financial Institutions (FFIs) do not file directly with the IRS. Instead, they report to their own local tax authority.
Under a Model 2 IGA, the local government directs FIs to register with the IRS and report directly to them. This is common in countries with strict banking privacy laws.
| Field Name | Status | Description | Resources |
|---|---|---|---|
| SE Name | Mandatory | Name of entity registered on the reporting portal filing the xml report. Usually this will be the Sponsoring Entity. | - |
| SE ID | Mandatory | GIIN of entity filing the xml report. | - |
| Field Name | Status | Description | Resources |
|---|---|---|---|
| SP Entity Name | Optional | Name of entity sponsoring the financial institution. | - |
| SP Entity Sponsor GIIN | Optional | Sponsor GIIN of the sponsoring entity. | - |
| SP Entity Address | Optional | Street address of the sponsoring entity. | - |
| SP Address City | Optional | City of the sponsoring entity. | - |
| SP Address County | Optional | County/state/province of the sponsoring entity. | - |
| SP Address Post Code | Optional | Post code of the sponsoring entity. | - |
| SP Address Country | Optional | Two letter Country Code of the sponsoring entity. | ISO 3166-1 Alpha-2 |
| SP Filer Category | Optional | Drop Down value - Select applicable (e.g. FATCA607). See Reference Data below. | See Ref Data |
| Field Name | Status | Description | Resources |
|---|---|---|---|
| RFI Name | Mandatory | Name of the Reporting Financial Institution (e.g., The ABC Trust, XYZ Limited). | - |
| RFI GIIN | Optional | GIIN of financial institution. | - |
| RFI Address | Mandatory | Street address of the financial institution. | - |
| RFI Address City | Mandatory | City of the financial institution. | - |
| RFI Address County | Optional | County/state/province of the financial institution. | - |
| RFI Address Post Code | Optional | Post code of the financial institution. | - |
| RFI Address Country | Mandatory | Two letter Country Code of the financial institution. | ISO 3166-1 Alpha-2 |
| RFI Reporting from Country | Mandatory | Two letter country code from where the financial institution is filing the xml report (where Resident). | ISO 3166-1 Alpha-2 |
| Field Name | Status | Description | Resources |
|---|---|---|---|
| AH Given Name(s) | Optional | Mandatory if individual - name of individual account holder. | - |
| AH Family Name(s) | Optional | Mandatory if individual - name of individual account holder. | - |
| AH Entity Name(s) | Optional | Mandatory if entity - name of entity account holder. | - |
| AH Type | Optional | Mandatory if entity - FATCA classification (e.g., FATCA102, FATCA104). | See Ref Data |
| AH TIN | Mandatory | Tax identification number of account holder. Use IRS Relief Codes (e.g., 222222222) if missing. | - |
| AH TIN Country | Mandatory | Two letter country code that issued the TIN. | ISO 3166-1 Alpha-2 |
| AH Foreign TIN | Conditional | Foreign Tax Identification Number. Mandatory under IRS Notice 2024-78 if the US TIN is missing and an IRS relief code is used. |
- |
| AH Date of Birth | Optional | Mandatory if individual - YYYY-MM-DD. | - |
| AH Country of Birth | Optional | Mandatory if individual - Two letter country code. | ISO 3166-1 Alpha-2 |
| AH Address | Mandatory | Street address of the account holder. | - |
| AH Address City | Mandatory | City of the account holder. | - |
| AH Address County | Optional | County/state/province of the account holder. | - |
| AH Address Post Code | Optional | Post code of the account holder. | - |
| AH Address Country | Mandatory | Two letter country code of the account holder. | ISO 3166-1 Alpha-2 |
| AH Account Type | Mandatory | Type of account holder (Select from Ref Data list). | See Ref Data |
| Field Name | Status | Description | Resources |
|---|---|---|---|
| FA Closed? | Mandatory | TRUE or FALSE. | - |
| FA Number | Mandatory | Free text field - Unique account number. | - |
| FA Currency | Mandatory | Three letter currency code (e.g., USD, EUR). Must be base currency. | ISO 4217 Currency |
| FA Balance | Mandatory | Account balance as at 31 Dec. Format: 1000.00 (No commas). | - |
| FA Payments (Dividend) | Optional | Dividend payments made. No commas. | - |
| FA Payments (Interest) | Optional | Interest payments made. No commas. | - |
| FA Payments (Proceeds/Redemption) | Optional | Repayments/Proceeds made. No commas. | - |
| FA Payments (Other Income) | Optional | Other payments made. No commas. | - |
| Field Name | Status | Description | Resources |
|---|---|---|---|
| SO ID Number | Optional | Unique ID for the Substantial Owner. | - |
| SO Given Name(s) | Optional | Given Name of the Substantial Owner. | - |
| SO Family Name(s) | Optional | Family Name of the Substantial Owner. | - |
| SO TIN | Optional | US Tax Identification Number. Use IRS Relief Codes (e.g., 222222222) if missing. | - |
| SO TIN Country | Optional | Country code of the TIN (usually US). | ISO 3166-1 Alpha-2 |
| SO Foreign TIN | Conditional | Foreign Tax Identification Number. Mandatory under IRS Notice 2024-78 if the US TIN is missing and an IRS relief code is used. |
- |
| SO Date of Birth | Optional | Format: YYYY-MM-DD. | - |
| SO Country of Birth | Optional | Two letter country code. | ISO 3166-1 Alpha-2 |
| SO Address | Optional | Street address. | - |
| SO Address City | Optional | City. | - |
| SO Address Country | Optional | Two letter country code. | ISO 3166-1 Alpha-2 |
Select one of the following roles:
*Or any other natural person exercising ultimate effective control over a trust.