Germany Tax Agency Updates Guidance on FATCA Reporting Requirements

The German Federal Central Tax Office March 20 updated guidance on reporting requirements for financial institutions under the U.S. Foreign Account Tax Compliance Act (FATCA). The update includes: 1) the July 31 submission deadline for the 2019 reporting period; 2) the test procedure for mass data transmissions (ELMA); 3) the new regulation on U.S. taxpayer identification numbers (TIN) for the 2020 reporting period; and 4) instructions for using the online portal, transferring an XML file using ELMA, and a contact form. [Germany, Federal Central Tax Office, 03/20/20]

Reference:
View Announcement. View FATCA Infobrief No. 01/2020 of 03/20/20.