France: Updated FATCA reporting technical guidance
Guidance that provides reporting financial institutions with technical descriptions and specifications required for the transmission of FATCA returns
Updated FATCA reporting technical guidance
France on 2 February 2024 issued an updated version (v4.8) of FATCA technical guidance that provides French reporting financial institutions with technical descriptions and specifications required for the transmission of FATCA returns.
The updates follow the U.S. Internal Revenue Service (IRS) Notice 2023-11 [PDF 101 KB] and the updated FAQs to account for changes to the series of codes developed by the IRS to be used by financial institutions when an account is missing a U.S. taxpayer identification number (TIN).
Codes that were added or modified, as compared to the previous list of codes, are noted below:
- 222222222, for pre-existing individual accounts when the only U.S. indicia is a U.S. place of birth, other than accounts reported under code 000222111.
- 000222111, for pre-existing depository individual accounts when the only U.S. indicia is a U.S. place of birth.
- 666666666, for pre-existing entity accounts held by passive non-financial foreign entities (NFFEs) with one or more controlling persons with respect to which no self-certifications have been obtained nor a U.S. indicia has been identified in relation to its controlling persons.
- 777777777, for pre-existing accounts with no U.S. TIN available and the account has been dormant or inactive but remains above the threshold limit for documenting and reporting.
- 999999999, for any other account when the financial institutions could not obtain a valid TIN and none of the other codes are applicable.
The guidance also notes that the old codes, AAAAAAAAA and 000000000, will no longer be accepted as default TINs for FATCA reporting.
Read a March 2024 report [PDF 541 KB] prepared by the KPMG member firm in France
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