The FATCA Registration system provides several types of notifications to users. These notifications are primarily sent to the responsible officer (RO) of the financial institution and are designed to inform them of changes or required actions related to their FATCA account. The notifications include:
- Email Notifications: The system will send emails to the responsible officer to check the FATCA account when a change has occurred or an action is required. These emails will notify the RO about registration status changes, transfers to an expanded affiliated group, changes in financial institution type, renewal of FFI agreements, certifications, and other required actions. Sponsoring entities will also receive email notifications about status updates for multiple sponsored entity file uploads.
- Message Board Notifications: Messages will be posted on the account’s message board, which can be accessed on the home page of the FATCA account. These messages will provide updates and information similar to the email notifications.
- FATCA Notifications: These are messages from the IRS to the sender of a FATCA Report file concerning the outcome of processing the file. There are two main types of FATCA notifications:
- File Error Notification: This notification is sent if there is an error encountered in attempting to access file contents. It provides a summary of the transmission, the error code, and instructions to correct the error and resubmit the file.
- Valid File Notification: This notification confirms that the file was received and processed successfully and documents any record-level errors identified within the file.
These notifications ensure that financial institutions are kept informed about the status of their FATCA registration and any necessary actions they need to take to remain compliant.
Sources:
Notice 2013-43
Publication 5216 (8/2020)
Notice 2014-33
Publication 5190 (2/2022)
