What is the Foreign Account Tax Compliance Act Timeline?

2013:
• January 1 – Effective date for FATCA.
• August 19 – IRS’s Registration Portal available.

2014:
• January 1 – Each financial institution expected to finalize its registration information by logging onto the FATCA registration website, making necessary changes and submitting as final.
– GIINs will begin to be issued as registrations are finalized. Reporting Model 1 FFIs will be able to register and obtain GIINs beginning on Jan. 1, 2014 to ensure they are included in the IRS FFI list before January 1, 2015.
• April 25 – To be included in the June 2014 IRS FFI list, FFI’s need […]