Financial Services Ireland

FATCA’s impact on non-financial institutions

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FATCA’s impact on non-financial institutions

FATCA compliance is required by all financial institutions (FIs) in Ireland and globally beginning 1 July 2014.

This generally includes banks, custodians, investment entities and life insurance companies. FATCA legislation dictates that FIs must perform a detailed review and identification of certain current and new owners of financial accounts.

Companies opening accounts with banks and other financial insitutions will need to be able to certify their status for FATCA purposes. Any Irish institution that is not an FI under the Irish-US Intergovernmental agreement to FATCA is, by definition, a non-financial foreign entity (NFFE).

The below article covers what you need to be aware of to reach FATCA compliance as a NFFE.

Amanda Murphy

Director, Business Tax Advisory
Amanda's Full Profile



FATCA Brochure

Companies opening accounts with banks and other financial insitutions will need to be able to certify their status for FATCA purposes