IRS Revises User Guide for FATCA Reporting

The IRS published a revised version of Publication 5124, the technical user guide for electronic FATCA reporting. According to the IRS, the updated user guide provides clarifications and minor updates to the original version that was issued in March 2014. Foreign Financial Institutions that report account information directly to the IRS must file Form 8966. The user guide explains how to prepare an electronic filing of Form 8966 and the information required to be included in each element of FATCA XML Schema v1.0.

See: FATCA User Guide; Form 8966.See also: Cabinet FATCA Materials (for Cabinet subscribers only). For more information, please contact Daniel Mulcahy or Mark Howe.