FATCA Compliance for FFIs

FATCA Compliance for FFIs

FATCA Compliance Data for Legal Entity and Financial Instruments

Manage FATCA Compliance with Ease

The US Foreign Account Tax Compliance Act (FATCA) places significant burdens on participating foreign financial institutions (FFIs). They need to collect and analyze substantial amounts of new data to perform IRS reporting, customer and counterparty classification, and withholding mechanisms.

Developed in close cooperation with banks and regulatory experts, the SIX FATCA compliance service delivers critical data on issuer identification and instrument status to your desktop. Timely, accurate, and streamlined, SIX significantly lightens the load of FATCA compliance.

Free Data Sample

Do you have all the information on the taxation and reporting of instruments falling under U.S. Tax?
Or are you at risk of non-compliance and hefty fines?

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How You Will Benefit

Automated instrument flagging

Easily identify instruments in scope of or grandfathered

Swift, seamless auditing

Replace error-prone manual processing with automated data delivery

Efficient in-house operations

Lower total compliance costs with extensive, automated, and timely data feeds

SIX Experts on Your Side

SIX provides the international financial industry with all data required to comply with FATCA, including institution-level classification and status and instrument-level tax status. We monitor instruments closely and immediately flag those that lose their status; we also cross-reference with other industry institutional identifiers to ensure compliance. As an active player in the financial sector, SIX closely follows regulatory developments, enabling us to provide comprehensive and timely support, as well as regulatory domain and market expertise.

Tax Suitability in the Advisory Process

Do you have the right data on the taxation of financial products to improve the services you offer to Wealth Management clients? Find out how SIX can help you use tax data to your advantage and improve your processes.

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About This Service

Our FATCA compliance service provides financial institutions with critical data elements to identify instruments in scope and ensure rapid audits. Discover more details in this section.

FATCA: Service Overview

Our factsheet guides you through the essential requirements of FATCA compliance, and provides an overview of the SIX FATCA compliance service and how it can help you comply with the IRS. 

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Data Scope of the FATCA Service

Institution Level Classification & Status:

  • FATCA FFI registry status and GIIN, based on the IRS list. 
  • Cross-reference with other industry institutional identifiers, including the Legal Entity Identifier (LEI), Avox Identifier (AVID), Dun & Bradstreet (D-U-N-S®), etc.

Instrument Level Tax Status: Instruments marked as in scope, exempt grandfathered, in scope – materially modified security and exempt short-term.

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