A Financial Institution (FI) can check the status of its registration through several methods provided by the IRS. The primary method involves using the FATCA Online Registration System. Here are the steps and details:
- FATCA Online Registration System:
- Login: The FI can log into its FATCA account through the FATCA Online Registration System. This can be accessed from the FATCA Registration Landing Page by clicking on "Register" or "Login," which will direct the user to the FATCA Financial Institution Account User Login page.
- Home Page: Once logged in, the FI can view the status of its registration on the home page of the FATCA Online Registration System. The system displays the account status and generates automatic email notifications to the responsible officer (RO) when there is a change in the registration status.
- GIIN: The FI can also check its Global Intermediary Identification Number (GIIN) on the home page. The GIIN is issued upon approval of the registration and can be used to verify the registration status.
- Email Notifications:
- The system sends automatic email notifications to the responsible officer (RO) to check the FATCA account when there is a change in the registration status.
- IRS FFI List:
- The FI can also check the IRS FFI List, which is updated monthly to add or remove approved entities or their branches. This list includes entities that have been issued a GIIN and can be searched by GIIN, financial institution name, or country.
- IDES Enrollment Site:
- For additional verification, the FI can access the IDES Enrollment site, log in with their username and password, and check the status of their registration.
By following these methods, a Financial Institution can effectively monitor and verify the status of its FATCA registration.
Sources:
Publication 5188 (7/2020)
Instructions for Form 8957 (06/2018)
Publication 5118 (07/2021)
Publication 5190 (2/2022)
