INTERNATIONAL TAX PLAZA - Ireland – Revenue eBrief No. 88/14 Publication of Guidance Notes on the Implementation of FATCA in Ireland published by the Irish Revenue

(October 2, 2014)

On December 21, 2012 the Governments of Ireland and the U.S. signed an intergovernmental agreement in relation to the implementation of FATCA in Ireland.

On October 2, 2014 the Irish Revenue published eBrief No. 88/14 titled Publication of Guidance Notes on the Implementation of FATCA in Ireland. The eBrief contains a link to a pdf-document titled: GUIDANCE NOTES ON THE IMPLEMENTATION OF FATCA IN IRELAND.

The GUIDANCE NOTES ON THE IMPLEMENTATION OF FATCA IN IRELAND as issued by the Irish Revenue is an extensive document of 102 pages. The document exists out of the following 12 chapters and contains 3 appendices.

Chapter 1. FATCA Overview;
Chapter 2. Reporting Financial Institutions;
Chapter 3. Reportable Accounts;
Chapter 4. Reporting;
Chapter 5. Identification and reporting of interests in Collective Investment Undertakings and other entities;
Chapter 6. Identification of Account Holders – Self Certification and other issues;
Chapter 7. Due Diligence Process for Pre-existing Individual Accounts;
Chapter 8. Due diligence process in the case of New Individual Accounts;
Chapter 9. Due diligence process in the case of Pre-existing Entity Accounts;
Chapter 10. Due diligence process for New Entity Accounts;
Chapter 11. Reporting of Payments made to Non-Participating Financial Institutions;
Chapter 12. Miscellaneous Issues.
Appendix 1. Non-Reporting Financial Institutions;
Appendix 2. Definitions relevant to FATCA;
Appendix 3. Registration Arrangements.

Click here to be forwarded to eBrief No. 88/14 as published on the website of the Irish Revenue, which will open in a new window.