FATCA GIIN

What is GIIN?

What is GIIN?

What is GIIN ?

GIIN stands for Glocal Iintermediary Iidentification Number. GIIN is something similar to tax identification number assigned to individual tax payer. GIINs are assigned by IRS ( Internal Revenue Service ) to Foreign financial institutions , withholding agents, and sponsoring entities.

How does a GIIN look like ?

ABC123.1EFG123.Z1.123

 

Part 1 – FATCA ID

Part 2 – Type of the financial Institution

Part 3 – Status Code ( LE/SP/SL/ME/SL/BR)

Part 4 – ISO 3166-1 numeric Country Code ( See here )

Why do I need GIIN ?

GIIN is a unique ID used to identify financial organizations and withholding agents. To file FATCA reports, GIIN is required. It’s equivalent to tax Id.

How do I get GIIN ?

  •  You need to sign up at https://sa.www4.irs.gov/fatca-rup/
  •  Accept Terms, Create an Account
  •  Select correct Institution Type ( See types of Financial Institutions )
  • Fill in Security Questions
  • Create access code. ( Make a note, this access code will be required )
  • FATCA ID is provided at the last step of the sign up process.
  • Use FATCA ID and access code, to login and request GIIN.

I got my GIIN, now what ?

Welcome to the world of FATCA compliance ! Now you can submit FATCA reports to IRS or your local tax authority (HTAC) depending on the IGA signed by your host country.

Make a note of GIIN, FATCA ID, and access code. All FATCA related transmissions require GIIN.

 

 

Leave a Comment

Your email address will not be published. Required fields are marked *