FATCA Update History

FATCA Return Filing for Reporting Year 2022

All Reporting SGFIs must submit their FATCA return(s) to IRAS, setting out the required information in relation to every US Reportable Account that was maintained in calendar year 2022, by 31 May 2023.

Please submit your FATCA return early so that you have time to resolve any unexpected issues during the submission process. Enforcement actions will be taken against Reporting SGFIs that do not submit their FATCA returns on time. Please refer to the FATCA Filing webpage for more information.

Instructions for reporting the Taxpayer Identification Number (“TIN”) data of preexisting accounts that are US Reportable Accounts and the US TIN of the US Person is not available for Reporting Years 2022, 2023 and 2024

The Foreign Financial Institution Temporary U.S. Taxpayer Identification Number Relief (“Notice 2023-11” (PDF, 69KB)), issued by the US Internal Revenue Service in January 2023, provides temporary relief procedures for Reporting SGFIs to follow if they fail to obtain and report the required US TIN of US Persons of preexisting accounts that are US Reportable Accounts for Reporting Years 2022, 2023 and 2024.

Where Reporting SGFIs maintain preexisting accounts that are US Reportable Accounts without the required US TIN of the US Persons, and the Reporting SGFIs fulfil the 4 conditions stated in Section 3.03 of Notice 2023-11, they should insert the relevant TIN codes for each US Account Holder or Controlling Person whose required US TIN is not available when they report such accounts to IRAS for Reporting Years 2022, 2023 and 2024. Reporting Year 2022 is considered to be a transition year, and to be eligible for relief, Reporting SGFIs must either use the TIN codes issued as per FAQ No. B.5 and B.6 of the IRAS FAQs on FATCA (PDF, 450KB) or the updated TIN codes. For Reporting Years 2023 and 2024, Reporting SGFIs must use the updated TIN codes that identify features of these accounts that may explain why the Reporting SGFI cannot report a U.S. TIN.

Please refer to FAQ No. B.8 of the IRAS FAQs on FATCA (PDF, 450KB) and the updated IRAS Supplementary XML User Guide for Preparing the FATCA Reporting Data File ("Supplementary Guide") (PDF, 255KB) documents for more information on the updated TIN field code and related scenarios.

Updated FATCA Fillable PDF Form
The FATCA Fillable PDF Form has been updated to include the TIN Issued By under Section B. Account Holder or Payee Information. Reporting SGFIs that intend to file their FATCA return via the Fillable PDF Form should use the updated FATCA PDF Fillable Form (PDF, 410KB) for filing.

FATCA Return Filing For Reporting Year 2021

All Reporting SGFIs must submit their FATCA return(s) to IRAS, setting out the required information in relation to every US Reportable Account that was maintained in calendar year 2021, by 31 May 2022. Please submit your FATCA return early so that you have time to resolve any unexpected issues during the submission process. Enforcement actions will be taken against Reporting SGFIs that do not submit their FATCA returns on time. Please refer to the FATCA Filing webpage for more information.

Increased Penalties for FATCA Filing Offences

With effect from 16 November 2021, the penalties for FATCA non-filing offences have been increased to $5,000 upon conviction, and a further fine of $100 per day for a continuing offence.

More than 90% of Reporting SGFIs have filed their annual returns on time. We strongly encourage Reporting SGFIs to put in place the necessary controls to ensure their returns are filed on time. Please refer to the FATCA Compliance section for more information. 

FATCA Return Filing for Reporting Year 2020

FATCA Return Filing for the Reporting Year 2020 will commence on 19 April 2021. All Reporting SGFIs must submit their FATCA return(s) to IRAS, setting out the required information in relation to every US Reportable Account that was maintained in Calendar Year 2020, by 31 May 2021.

We strongly encourage Reporting SGFIs to submit their FATCA return(s) by 15 May 2021 to allow sufficient time to resolve any unexpected issues. Enforcement actions will be taken against Reporting SGFIs that do not submit their FATCA returns on time.

Please refer to the FATCA Filing Requirements section for more information.

Part C of the IRAS Supplementary XML Schema User Guide for Preparing the FATCA Reporting Data File (“Supplementary Guide”) (PDF, 259KB) has been updated. 

IRAS FATCA FAQs (PDF, 225KB) document updated: FAQ B.5 updated; FAQ B.6 added

Part C of the IRAS Supplementary XML Schema User Guide for Preparing the FATCA Reporting Data File (“Supplementary Guide”) (PDF, 255KB) has been updated. 

Part IV, Section B of the FATCA Fillable PDF Form has been updated to include Entity Account Holder Type: Owner-Documented FFI with Specified U.S. Owner(s) (ODFFI).

Reporting SGFIs that can file their FATCA return(s) earlier by 31 May 2020 should continue to do so.

The updated FATCA Fillable PDF Form has been updated. Reporting SGFIs that intend to file their FATCA return via the Fillable PDF Form are strongly encouraged to use the updated FATCA Fillable PDF Form (PDF, 425KB) to ensure a smoother filing experience.

FATCA e-Tax Guide (PDF, 1,172KB) has been updated.

FATCA Return Filing for Reporting Year 2019

FATCA Return Filing for the Reporting Year 2019 will commence on 20 April 2020. All Reporting SGFIs must submit FATCA return(s) to IRAS, setting out the required information in relation to every US Reportable Account that was maintained in Calendar Year 2019, by 31 May 2020.

We encourage Reporting SGFIs to submit their FATCA return(s) by 15 May 2020 to allow sufficient time to resolve any unexpected issues.

Please refer to the FATCA Reporting Requirements section for more information.

New IRAS Public Key for preparing a FATCA reporting packet for submission via IDES between 25 March 2020 to 31 March 2020

Reporting SGFIs submitting a FATCA reporting packet via IDES between 25 March 2020 to 31 March 2020 must encrypt the FATCA reporting packet using the new IRAS Public Key. Please refer to Step 3 in Overview of FATCA Reporting through IDES section for a copy of the new IRAS Public Key.

Reporting SGFIs are reminded that with effect from 1 April 2020, Reporting SGFIs must submit all FATCA returns, including nil returns (if applicable), electronically to IRAS via the “Submit CRS or FATCA Return” e-Service at IRAS’ myTax Portal. 

Reminder: Changes to FATCA reporting requirements with effect from 1 April 2020

With effect from 1 April 2020, Reporting SGFIs must submit all FATCA returns, including nil returns (if applicable), electronically to IRAS via the “Submit CRS or FATCA Return” e-Service at IRAS’ myTax Portal.

Reporting SGFIs must provide their FATCA Registration Information to IRAS in order to submit their FATCA returns to IRAS from 1 April 2020. Reporting SGFIs that have yet to do so should provide the information via the “ Apply for CRS Registration” e-Service. A CRS-registered SGFI should submit only the FATCA Registration Information of the entity under the e-Service.

The IRAS Supplementary XML Schema User Guide for Preparing the FATCA Reporting Data File (“Supplementary Guide”) to be read in conjunction with the FATCA Regulations, FATCA guidance materials and the FATCA XML Schema V2.0 User Guide (US IRS’ Publication 5124). The materials are available at FATCA Filing webpage . 

In order to submit FATCA returns via the “Submit CRS or FATCA Return” e-Service from 1 April 2020, Reporting SGFIs must provide their FATCA Registration Information to IRAS.

Reporting SGFIs that have yet to do so should provide the information via the “Apply for CRS Registration” e-Service.

List of Approved Certificate Authorities

The list of US IRS-approved Certificate Authorities has been updated.

If the Reporting SGFI has a valid certificate from an approved certificate authority, based on the prior version of the list (available in  FAQs - FATCA Filing Process (PDF, 323KB)), the Reporting SGFI may continue to use it until it expires. 

Please note that with effect from 1 April 2020, Reporting SGFIs do not need to have a valid certificate as there is no need to digitally sign, encrypt or compress the FATCA XML file for submission via myTax Portal.

Changes to FATCA reporting requirements with effect from 1 April 2020

With effect from 1 April 2020, Reporting SGFIs must submit all FATCA returns, including nil returns (if applicable), electronically to IRAS via the “Submit CRS or FATCA Return” e-Service at IRAS’ myTax Portal. Correspondingly, IRAS will no longer accept FATCA returns submitted via the International Data Exchange System (“IDES”). The requirement is applicable to all submissions of new, nil, amended, corrected or void FATCA returns, including returns relating to Reporting Years 2018 and earlier. These changes will streamline Reporting SGFIs’ FATCA reporting process.  

The FATCA Paper Nil Return for Reporting Year 2018 is now available for download.

FATCA Return Filing for the Reporting Year 2018 will commence on 15 April 2019. All Reporting SGFIs must submit a FATCA Return to IRAS, setting out the required information in relation to every US Reportable Account that was maintained in Calendar Year 2018, by 31 May 2019.  

We strongly encourage Reporting SGFIs to submit their FATCA Return by 15 May 2019 to allow sufficient time to resolve any unexpected issues. Enforcement actions will be taken against Reporting SGFIs that do not submit their FATCA returns on time.

Reporting SGFIs that did not maintain any US Reportable Accounts may continue to submit a Paper Nil Return for Reporting Year 2018. The Paper Nil Return for Reporting Year 2018 will be made available for download from 12 April 2019.

Changes to FATCA Registration: FI classification

Reporting SGFIs can register or update their FATCA classification at the FATCA Registration Portal under the FI classification "Reporting Financial institution under a Model 1 IGA".

16 November 2018

Singapore and the US signed a FATCA Model 1A IGA on 13 November 2018.

FATCA Return Filing for Reporting Year 2017 
The FATCA Paper Nil Return for Reporting Year 2017 is now available for download.

FATCA Return Filing for Reporting Year 2017
FATCA Return Filing for the Reporting Year 2017 will commence on16 April 2018. All Reporting SGFIs must submit a FATCA Return to IRAS, setting out the required information in relation to every US Reportable Account that is maintained in Calendar Year 2017, by 31 May 2018.

We strongly encourage Reporting SGFIs to submit their FATCA Return by 15 May 2018 to allow sufficient time to resolve any unexpected issues. Enforcement actions will be taken against Reporting SGFIs that did not submit their FATCA returns on time or did not submit their FATCA returns.

Reporting SGFIs that did not maintain any US Reportable Accounts may continue to submit a Paper Nil Return for Reporting Year 2017. The Paper Nil Return for Reporting Year 2017 will be made available for download from 13 April 2018.

New IRAS Public Key for preparing a FATCA reporting packet

With effect from 1 March 2018, all FATCA reporting packets that are uploaded to the IDES for transmission to IRAS must be encrypted using the new IRAS Public Key.

Instructions for reporting the Taxpayer Identification Number (“TIN”) data of pre-existing accounts that are US Reportable Accounts and the US TIN Of the US Person is not available for Reporting Years 2017, 2018 and 2019
The Revised Guidance Related to Obtaining and Reporting Taxpayer Identification Numbers and Dates of Birth by Financial Institutions (“ Notice 2017-46” (PDF, 58KB)), issued by the US Internal Revenue Service on 25 September 2017, provides procedures for Reporting SGFIs to follow if they fail to obtain and report the required US TIN of US Persons of pre-existing accounts that are US Reportable Accounts for Reporting Years 2017, 2018 and 2019.

Where Reporting SGFIs maintain pre-existing accounts that are US Reportable Accounts without the required US TIN of the US Persons, and the Reporting SGFIs fulfil the 3 conditions stated in Section III(B) of Notice 2017-46, they should insert a string of 9 consecutive “A”s (i.e. “AAAAAAAAA”) in the TIN field for each US Account Holder or Controlling Person whose required US TIN is not available when they report such accounts to IRAS for the 3 reporting years.

List of Approved Certificate Authorities
The list of US IRS-approved Certificate Authorities has been updated and will take effect from 31 July 2017.

REMINDER: FATCA Return Filing for Reporting Year 2016
FATCA Return filing for Reporting Year 2016 has ended on 31 May 2017. Reporting SGFIs that have not submitted their FATCA Return must do so immediately.

Amendments to the Income Tax (International Tax Compliance Agreements) (United States of America) Regulations 2015 ("FATCA Regulations")

Regulation 14 of the FATCA Regulations has been amended to align the description of the CPF accounts/investments with the recent amendments to the Central Provident Fund (“CPF”) Act which came into effect on 1 Jan 2017.

The amendments to the FATCA Regulations do not change the types of CPF accounts/investments that are excluded for FATCA reporting purposes.

Please refer to the amendments to the FATCA Regulations for more information.  

21 December 2016

FATCA XML Schema Version 2.0 (Effective from 17 January 2017)

With effect from 17 January 2017, all new, nil, amended, corrected or void FATCA Returns, including returns relating to Reporting Years 2014 and 2015, that are submitted to IRAS through the IDES must be formatted using FATCA XML Schema Version 2.0.

11 October 2016

Adoption of FATCA XML Schema Version 2.0 for FATCA Return submission

IRAS has adopted FATCA XML Schema v2.0 for Reporting SGFIs’ use. The date of transition, which is expected to be in January 2017, will be announced in due course. Following the transition date, all new, nil, amended, corrected or void FATCA Returns, including returns relating to Reporting Years 2014 and 2015, that are submitted to IRAS through the IDES must be formatted using FATCA XML Schema Version 2.0.

Please refer to FATCA Data Format section for a copy of the FATCA XML Schema v2.0.

15 July 2016

FATCA XML Schema v2.0 (Draft version)

For Reporting Year 2016 (i.e. submission commencing April 2017), the FATCA XML Schema v2.0 will replace v1.1. All International Data Exchange Service (IDES) users, including Reporting SGFIs, will be required to submit FATCA Reports using version 2.0 as version 1.1 will no longer be supported.

A draft version of the FATCA XML Schema v2.0 is available on the FATCA XML Schemas and Business Rules for Form 8966 web page. The draft schema is subject to change and not intended for use in current production.

IRAS will make an announcement and published the FATCA XML Schema v2.0 on this webpage when it is finalised and adopted for Reporting SGFIs’ use.

15 July 2016

FATCA Return filing for Reporting Year 2015 has ended on 31 May 2016. Reporting SGFIs that have not submitted their FATCA Return must do so immediately.

25 May 2016

REMINDER: FATCA Return Filing for Reporting Year 2015

25 May 2016

Change of FATCA IDES File Encryption Mode (Effective date: 9 July 2016)

With effect from 9 July 2016*, IDES will no longer accept data packets encrypted with ECB cipher mode and Reporting SGFIs are required to transmit FATCA reporting packet using CBC cipher mode. CBC is a stronger algorithm for encrypting data and its adoption will improve the current secure data packaging process.

The sample codes for developing an utility to prepare a FATCA reporting packet, using CBC cipher mode, have been updated. Please refer to the updated sample codes.

More information on CBC encryption is available in Section 9 of the IDES User Guide (PDF, 5,111KB). 

4 Apr 2016 

FATCA Return Filing for Reporting Year 2015

FATCA Return Filing for the Reporting Year 2015 will commence on 15 April 2016. All Reporting SGFIs are required to submit a FATCA Return to IRAS, setting out the required information in relation to every US Reportable Account maintained in Calendar Year 2015, by 31 May 2016.

11 February 2016 

REMINDER: New Accounts opened prior to the entry into force of the Singapore-US IGA and under the Alternative Procedures

The one year period for applying the alternative due diligence procedures (“the Alternative Procedures”) provided under Paragraph G.2 of Section VI of Annex I of the Singapore-US IGA (“the IGA”), for New Accounts opened prior to the entry into force of the IGA will end on 17 March 2016.

Reporting SGFIs that have applied the Alternative Procedures on New Accounts opened between 1 July 2014 and 17 March 2015, are reminded to collect the required self-certification or other documentation for any of such accounts by 17 March 2016. Reporting SGFIs that are unable to obtain the required documentation on such accounts by 17 March 2016 must

1. close the accounts;

2. perform the applicable due diligence procedures on such closed accounts; and

report any closed account that is identified as a US Reportable Account or as an account held by a Nonparticipating Financial Institution, as the case may be, to IRAS by 31 May 2016 

11 February 2016 

FIs no longer need to provide contact information to IRAS for FATCA

Reporting SGFIs need not provide their contact information to IRAS as such information can be obtained when a FATCA reporting packet is submitted to IRAS via the IDES.

18 November 2015 

Clarification Note on Sole-Proprietorships

18 November 2015 

FAQs for Account Holders

4 September 2015 

Reminder on FATCA Return submission for Reporting Year 2014