FATCA XML form 8966 schema v2.0 and user guide

Version: 

2.0

Original Published Date: 

27/02/2017 - 03:30pm

Status: 

  • Current

Tax Category: 

  • Business accounting
  • Investment bodies

Resource Type: 

  • Specifications
  • Guides and instructions

Description: 

Intergovernmental FATCA XML Schema

The IRS has finalised the format for automatically exchanging FATCA data with IGA jurisdictions. The Intergovernmental FATCA XML Schema v2.0 is effective from 1 January 2017 and must be used for all FATCA reports including prior years.

The Schema:

  • is a standard format developed in close consultation with the Organisation for Economic Cooperation and Developments (OECD)
  • captures required information for reporting of FATCA data from both financial institutions and host country tax administrations
  • will be used for automatic exchange with all FATCA jurisdictions
  • uses elements from existing reporting schemas used by the OECD and the European Union to reduce burden on reporting entities
  • uses XML to allow for easier modifications down the road in the event of legislative or regulatory changes in reporting rules
  • will facilitate safe and secure electronic data transmission using the International Data Exchange Service.

Note: The .xsd files that comprise the Intergovernmental FATCA XML Schema can be viewed using a web browser such as Internet Explorer or Chrome.  The file is also viewable using a text editor such as Microsoft Notepad, or an XML tool such as XMLSpy or XML Notepad.

Submitting the FATCA XML Schema to the ATO

FATCA reports should be submitted to the ATO through the Business Portal or Tax Agent Portal.

Reason for Amendment: 

  • 27 February 2017 – Updated FATCA XML Schema to version 2.0
  • 20 July 2015 – New link to FATCA detailed guidance material.
  • 23 April 2015 – Added the updated technical reporting questions and answers document.
  • 16 March 2015 – Added Draft FATCA validation rules. NOTE: These rules MUST be used in conjunction with the FATCA XML Schemas and Business Rules for Form 8966.
  • 12 February 2015 – Added the technical reporting questions and answers document.
  • 04 December 2014 – New link to the FATCA schemas.
  • 27 November 2014 – Technical FAQ's link added.
  • 17 March 2014 – Schema now final, links updated to the IRS website.
  • 25 February 2014 – Schema files weren't opening as expected.

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