The Foreign Account Tax Compliance Act (FATCA) is a United States law that requires certain financial institutions and other non-financial entities outside the US to report information about financial accounts held by US persons. Failure to comply may result in withholding on certain payments.
FATCA Registration and Reporting
If your organisation is required to report under FATCA, you must first register with the US Internal Revenue Service (IRS) using the FATCA Registration Website.
Once approved, the IRS will provide a Global Intermediary Identification Number (GIIN), which must be included in all FATCA reports.
All FATCA reports must be prepared in XML format, following the FATCA XML Schema and User Guide provided by the IRS.
FATCA Reporting in Australia
The Australian Tax Office (ATO) provides the Small Reporter Tool for organisations with up to 50 individual and 50 organisational reportable accounts. This tool helps you prepare and submit your FATCA report.
For volumes exceeding these limits, please contact Caruso for support in generating the required XML file.
The Small Reporter Tool can also be used to lodge a nil report if there are no reportable accounts for the reporting period.
Key Dates (Australia)
Reporting period: 1 January to 31 December each year
Due date: Reports must be lodged with the ATO by 31 July of the following year
Extensions: If you cannot lodge your report by 31 July, you may request an extension. Refer to the ATO’s guidance on FATCA reporting for more details.
FATCA Reporting in New Zealand
The New Zealand Inland Revenue Department (IRD) supports several reporting methods for FATCA listed below:
You may select the method that best suits your reporting needs. The IRD provides detailed instructions in their Registration and Reporting User Guide.
The Excel file method is available for up to 1,000 records. For volumes exceeding these limits, please contact Caruso for support in generating the required XML file.
Key Dates (New Zealand)
Reporting period: 1 January to 31 December
Due date: Reports must be lodged with the IRD by 30 June of the following year
Extensions: May be available by request to the relevant authority.
Useful Resources
Australian Tax Office (ATO):
New Zealand Inland Revenue Department (IRD):
If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.