Last updated: 22 Nov 2025
US Tax for Banks in Australia (QI, FATCA, CRS/AEOI)
Welcome to the Australia hub. This page brings together key information for financial institutions: the regulatory framework, reporting mechanisms via the Australian Taxation Office (ATO), supervision & enforcement, QI specifics for Australian institutions and local tax features & practical examples.
Highlights (at a glance)
FATCA: Model 1 IGA (Australia–US)
Reporting is made to the ATO, which then exchanges data with the IRS under the Australia–US FATCA Intergovernmental Agreement. Institutions need a GIIN and must collect and report US TINs where required.
CRS/AEOI via ATO
Automatic exchange of information under the OECD Common Reporting Standard (CRS), with Australian financial institutions reporting foreign tax resident accounts to the ATO in prescribed electronic formats.
More: Reporting mechanisms
QI as a US regime
Australia is on the IRS list of Approved KYC jurisdictions. Still, W-forms, pooling & treaty rates, 1042/1042-S and the QI Periodic Review cycle remain central.
More: QI specifics
Topic cards (links to subpages)
Regulatory framework
Legal foundations and competent authorities for FATCA (Model 1 IGA), CRS/AEOI and QI in Australia – including the role of the ATO, APRA, ASIC, AUSTRAC and the IRS.
Law & guidance IGA/Annex Privacy
Reporting mechanisms (ATO)
Reporting channels and formats for FATCA and CRS via the ATO – data mapping, XML/portal requirements, GIIN/TIN management, error feedback and corrections.
ATO CRS/FATCA Deadlines
Supervision & enforcement
Who looks at what? ATO (FATCA/CRS), APRA/ASIC (governance, risk, conduct), AUSTRAC (AML/CTF) and IRS (QI). Typical findings, enforcement levers and practical governance expectations.
Reviews Governance Risk
Tax specifics & practice
Local product and tax features, edge cases in the Australian context (including superannuation touch-points), anonymised examples and operational checklists.
Products Edge cases Checklists
QI specifics
Approved KYC (Australia), W-8/W-9 documentation, Reason-to-Know, pooling & treaty rates, QDD/871(m), 1042/1042-S, and the QI Periodic Review & RO certification cycle for Australian institutions.
W-forms Pooling 1042-S
Tools & links
Internal tools (templates, checklists) and official sources: ATO (FATCA/CRS), Australian Treasury (FATCA IGA), and IRS (QI/1042/8966).
ATO IRS Templates
FATCA services (Australia)
Start · Build · Run · Assurance – including FATCA reporting to the ATO and global Form 8966 support via Sesch USA LLC, with upstream data validation and reviewer-ready evidence.
Start Build Run Assurance
QI services (Australia)
QI registration and maintenance, W-form/RtK hardening, pooling logic, 1042/1042-S tie-outs, Periodic Review & RO certification – with QDD/871(m) scoping as an optional module.
W-forms Pooling 1042-S QDD
Tools & resources
Quick access
All practical tools and specification links for Australia are bundled on one page – including ATO FATCA/CRS guidance, schema references and IRS QI/FATCA resources.
Note
- Technical specifications (XML/transport), validation rules and deadlines are updated regularly by the ATO and IRS.
- Please always verify against the most recent official publications before filing.
FAQ
Do Australian institutions report directly to the IRS?
No. Australia has a Model 1 IGA; reporting is made to the Australian Taxation Office (ATO), which then exchanges information with the IRS. However, IRS registration (GIIN) and ongoing FATCA/QI compliance are still required.
How do QI and FATCA/CRS fit together in Australia?
QI is a US withholding and documentation regime focused on US-source income, W-forms, pooling and 1042/1042-S. FATCA/CRS are due-diligence and reporting regimes (with reporting via the ATO for Australian financial institutions). Data must be consistent across all regimes – KYC, QI, FATCA and CRS/AEOI.