Critical FATCA Update: RO Certifications Due by July 1, 2025

Important Announcement for FFIs

Foreign Financial Institutions (FFIs) must act now! The IRS has announced that Responsible Officer (RO) certifications for the FATCA certification period ending December 31, 2024, are due no later than July 1, 2025.

Failing to submit certifications by this deadline could lead to severe consequences, including the revocation of FATCA compliance status and removal of your Global Intermediary Identification Number (GIIN) from the FFI list.

Additionally, the IRS has updated its FATCA Registration System to enhance security, requiring all users to log in using either Login.gov or ID.me. These new requirements may present challenges for entities unfamiliar with the updated system.

How Opes Software Can Help

At Opes Software, we specialize in helping FFIs navigate FATCA compliance with ease. Our Service Bureau ensures:

• Timely and accurate submission of RO certifications.
• Support for Login.gov and ID.me setup to meet the new FATCA Registration System requirements.
• Comprehensive assistance to help you avoid non-compliance risks.

Don’t wait until the last minute! Contact us today to ensure a smooth, stress-free FATCA compliance process.