New IDES FAQs & IDES Enrollment Process for USWA, TFIs, Vendors and Third Party Preparers
Several FATCA IDES Technical FAQs have been added and updated on IRS.gov. New FAQs are focused on proper preparation of data for submission to IDES and IDES Use for Entities Not Required to Obtain a GIIN.
There is now an option for entities, such as U.S. withholding agents (USWA), territory financial institution (TFI), third party preparers, and commercial software vendors to enroll for IDES and transmit reports to the IRS. Those entities are not required to have a global intermediary identification number (GIIN). Instead they are required to obtain a FATCA Identification Number (FIN).
The FIN is a 19-character identifier that will be used in lieu of a GIIN to access IDES for FATCA reporting.