FATCA Report Submission Guide

Tags: FATCA, Submit Report, Report Submission Guide

The FATCA report submission process can be summarized as follows:

  1. Log into e-Tax
  2. Click on the FATCA tab
  3. Request a submission code
  4. Retrieve the submission code
  5. Click on the Submit File link
    1. Enter the submission code
    2. Enter the GIIN and Reporting year
    3. Select the submission type
    4. Attach the xml file and click submit

Logging into e-Tax

All submissions will be made by logging into IRDs e-Tax online platform at https://etax.ird.gov.tt. You will then be directed to ttconnect’s website where you will enter your ttconnect id and password. Select the company that you will be making the FATCA submission for and you will be directed back to e-Tax.

Enter your e-Tax PIN and you will now have access to e-Tax.

FATCA report submission

After logging into e-Tax click on the FATCA tab. The following list of options will be displayed:

  • Request Submission Code
  • FATCA File submission
  • Test Validation

Request submission code

A submission code is required before a FATCA report can be submitted. The submission code is valid for 24 hours and multiple submissions can be facilitated using a valid submission code. Click on the Request Submission Code link to generate a submission code.

Submission codes cannot be shared between users as they are unique to the person who requested it.

The requested code is emailed to the email address provided by the Point of Contact (PoC) during the registration process.

FATCA file submission

After retrieving the submission code click on the FATCA file submission link. Enter the submission code, the relevant GIIN and year. Select the type of report being submitted, New, Amended, Correction or Void and attach the file.

Once the file is attached it will go through the validation process. If it passes validation a summary of the file and its contents will be displayed. Click the submit button to complete the submission process. A confirmation number will be displayed for your records. If the file fails validation the error(s) will be displayed and must be corrected before the file can be successfully submitted.

Once the file has been submitted to IRD it is deemed submitted to the International Data Exchange Service (IDES). An email will be sent to the relevant PoC within 5 business days after successful submission, advising them to login to e-Tax view the FATCA notification send from IDES. The response from IDES will be attached to the notification. The attachment will indicate if the submitted file was successfully processed by IDES or if any corrections are required.

This process is used to submit corrections, amendments or voids. Corrections, amendments or voids cannot be submitted unless notification for that submission has been received from IDES.

Security

At every step within the process various security features are employed to ensure a transparent and secure process.

  • Associating the GIIN to the Financial Institution (FI)
    • Once FIs register their GIIN with IRD, only approved IRD personnel have access to this information.
  • Application and activation of e-Services login credentials
    • PoCs must register in person and provide an authorisation letter from the FI and a valid id.
    • Users access e-Tax via the ttconnect website which requires a ttconnect id and password. Once they have logged in to ttconnect users must then enter a PIN number to login to e-Tax.
    • A submission code is required before a file submission is made. The PoC requests the submission of the code in e-Tax which is then sent to the PoC’s e-mail address, provided during the registration process.
  • Uploading of FATCA reporting file
    • Upon logging into e-Tax all of the communication between the FI and IRD is secured. Every action performed is encrypted and securely transmitted to IRD.
    • Once uploaded the FATCA reporting file is also encrypted, making its transmission to IRD secure.
  • IDES notification
    • IDES file notifications are not sent directly to the PoC but stored on the e-Tax portal. When IRD receives a file notification for the FI an email will be sent to the relevant PoC advising them that they have received a FATCA communication in e-Tax.

Test validation

This link is used to aid FIs in the creation of valid xml templates. Only test submission types (i.e. FATCA11, FATCA12, FATCA13, and FATCA14) should be submitted using the test validation link. These files are not submitted to IRD, this service is primarily used to verify the xml schema.