Foreign Account Tax Compliance Act (FATCA) - Extension to 2015 filing deadline

Foreign Account Tax Compliance Act (FATCA) – Deadline Extension until 31 July 2015

In response to representations from industry, Revenue have agreed to extend the FATCA filing deadline from 30 June 2015 to 31 July 2015.

FATCA returns must be filed using ROS, and so a tax reference number and a ROS registration are required to file the FATCA return. Any financial institution which does not have a tax reference number or which is not registered for ROS should obtain a tax reference number and register for ROS without delay.

An extension will apply to 2015 FATCA filings only.

If you require any assistance please contact Deirdre Free (dfree000@revenue.ie) or Lyndsay Smyth lyndsay.smyth@revenue.ie - Exchange of Information Branch, International Tax Division, Revenue Commissioners.

Background

FATCA requires financial institutions to register with the US Inland Revenue Service (IRS) and report account information with respect to US persons, including account balances, interest payments, value of insurance contracts and proceeds of sale of financial assets. Legislation was introduced in the Finance Act 2013 and Regulations were made in June 2014 compelling Irish financial institutions to collect and return the agreed information to Revenue. This information will then be transmitted to the IRS. Revenue will receive similar information from the IRS regarding Irish taxpayers. The original filing deadline for FATCA was 30 June 2015.

Please refer to Part 38-03-18, which is available on the revenue website under About Us / Freedom of Information / Tax and Duty Manual/Income Tax Capital Gains Tax Corporation Tax / Part 38.

25 June 2015