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 2026

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

Awards
It was another banner year for Deloitte, which picked up more awards than any other firm at a gala ceremony held at The Londoner in Leicester Square
The big four firm has been embroiled in a scandal over partners’ misuse of confidential board papers to pitch for and win corporate audits for Westpac and Dexus
Drawing on lessons from the PepsiCo case, tax lawyer Paul McNab explains why the ATO's latest royalty guidance should concern multinationals well beyond the technology sector
As pillar two exposes the limits of fragmented tax processes, organisations are rethinking their operating models to create the trusted data foundations that AI demands
World Tax data shows Matt Donnelly is moving from a Tier 3 transactional tax practice to a Tier 1 market leader, underlining Kirkland & Ellis’s pull at the top end of the market
Nexdigm's Maulik Doshi and infer360 co-founder Sunil Agarwal dig deeper into their partnership and discuss why the tax technology industry is consolidating
Advisers won’t be short of work in a world of increased valuation disputes, documentation requirements and behavioural responses from clients seeking to protect their wealth
Jaydeep Menon explains how Frazier & Deeter built a specialist practice which helps UK start-ups expand into the US and why private equity backing is accelerating its ambitions
As joint audits, data sharing and pillar two reshape tax controversy, multinational groups can no longer afford to manage disputes one jurisdiction at a time
Brazil's tax system is being reshaped by VAT , pillar two and TP reform. Fallet explains why those changes convinced him to lead a new practice
Gift this article