FATCA Model 2 Reporting
The U.S. Foreign Account Tax Compliance Act (FATCA) requires Foreign Financial Institutions (FFIs) to identify and report information regarding U.S. account holders to the Internal Revenue Service. For institutions operating under Model 2 Intergovernmental Agreements, this reporting occurs directly to the IRS, alongside strict registration, due-diligence, and annual certification obligations.
Basswood Counsel assists investment entities operating under Model 2 IGAs in meeting these requirements with precision and efficiency. We manage the full FATCA lifecycle—from initial registration and GIIN maintenance to annual reporting and procedural reviews—ensuring our clients satisfy their obligations with clarity and confidence.
Our approach streamlines Model 2 FATCA compliance for investment funds and related structures, reducing administrative burdens, minimizing errors, and facilitating coordinated reporting across jurisdictions. With a disciplined workflow and direct engagement with the IRS FATCA systems, we enable fund managers and administrators to maintain focus on their core responsibilities while preserving full compliance.