On 9 October 2026, Revenue published eBrief No. 147/26, updating the Guidance Notes on the Implementation of the Foreign Account Tax Compliance Act (FATCA) in Ireland. The update reflects changes to the Ireland-US Intergovernmental Agreement (IGA) and OECD Common Reporting Standard (CRS) developments. It provides detailed instructions for Irish financial institutions on due diligence, reporting, and registration requirements.
Key Takeaways
- Enhanced Due Diligence: Financial institutions must apply updated due diligence procedures for new and pre-existing accounts to identify US reportable accounts.
- Reporting Deadlines: The guidance reinforces annual reporting deadlines to Revenue for onward transmission to the US IRS, with penalties for non-compliance.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement