In an effort to assist Responsible Officers in preparing to complete the FATCA certifications, for both certifications that relate to an entity’s preexisting accounts (“COPA”) as well as another that relates to the entity’s compliance with various FATCA requirements (“periodic certification”), the IRS has released the draft certification questions.
The due date for submitting both FATCA certifications (one that relates to an entity’s preexisting accounts (“COPA”) and another that relates to the entity’s compliance with various FATCA requirements (“periodic certification”) is July 1 following the third full calendar year after the date the entity registered and received a GIIN. The update to the FATCA Registration Portal containing FATCA certifications will not be available prior to July 2018.
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