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On 19 August 2013, the U.S. Internal Revenue Service (IRS) unveiled its FATCA Registration Portal, an internet-based application that Financial Institutions (FIs) may use to register for FATCA purposes. As anticipated under Notice 2013-43 released by the IRS on 12 July 2013 (which postponed the phased implementation timeline of FATCA for another 6 months).
1. For the period from the opening of the FATCA registration website through 31 December 2013, a financial institution (FI) will be able to access its online account to modify or add registration information.
2. Prior to 1 January 2014, any information entered into the system, even if submitted as final by the website user, will not be regarded as a final submission, but will merely be stored until the...
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