More testing announced for FATCA's information exchange systems

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

More testing announced for FATCA's information exchange systems

Financial institutions and tax administrations will get another opportunity next week to test the FATCA International Data Exchange Service (IDES), the technology that will be used to exchange data securely under the Foreign Account Tax Compliance Act.

Testing will be open from April 20 at 12pm Eastern Daylight Time (EDT) to April 24 at 12pm EDT to all financial institutions and tax administrations that have completed IDES enrolment by today (April 16 2015) at 5pm EDT.

 

The IRS has listed what testers should do before they start testing; guidelines for data packets and transmissions; and what they should do if they need help during testing.

The IDES was launched in January as the tool to be used for the secure exchange of information under FATCA, the US legislation that requires foreign financial institutions to report to the US Treasury and Internal Revenue certain payments to their US account holders or pay a withholding tax of 30%. 



more across site & shared bottom lb ros

More from across our site

An OECD report has uncovered a lack of public trust in politicians as a source for tax information. Banning them from owning shares in companies could boost confidence
‘We did not expect to carve out big economies from the minimum tax system’, Estonia’s finance minister said; in other news, Blick Rothenberg has acquired The Vat Consultancy
The proposal seeks to regulate compulsory TP documentation in line with the OECD Transfer Pricing Guidelines and simplify filing requirements
Despite the decline in profitability, the firm’s tax advisory business delivered a 3.4% revenue growth
Firms are making use of inventories and ample profit margins to avoid or absorb the initial impact of higher tariffs, an OECD report said
While UN proposals to shift airline taxation from a residence-based system to a source-state one are not set in stone, ex-British Airways CEO Willie Walsh warns they would increase costs and complexity
Von Wobeser y Sierra’s head of tax shares best practices for resolving tax controversy and touts his firm’s founding partner as an exemplar of legal practice
ITR concludes its analysis of World Tax’s rankings for 2026 by highlighting the firms that stood out most on a global scale
Experts from law firm Kennedys outline the key tax disputes trends set to define 2026, ranging from increased enforcement to continued tariff drama and AI usage
They also warned against an ‘unnecessary duplication of efforts’ in UN tax convention negotiations; in other news, White & Case has hired Freshfields’ former French tax head
Gift this article