FATCA — Operating Model & Reporting (overview)

Your starting point for FATCA (Chapter 4): governance & control calendar, RO certification, documentation lifecycle, data dictionary, U.S. TIN, reporting & corrections, GIIN due diligence, sponsored structures, and Model 1 vs 2 nuances.

Core modules

• FATCA governance — roles, policies & the annual control calendar
  Practical roles, policy stack, KRIs, and a reviewer-friendly control calendar aligned to reporting cycles.
• Responsible Officer (RO) — certification for FFIs (playbook & timelines)
  What the RO signs, evidence packs that matter, and a timeline you can audit against.
• GIIN due diligence — registration, monitoring & common pitfalls
  GIIN lifecycle, monitoring the IRS list, and avoiding frequent bank-side errors.
• Documentation lifecycle — W-8/W-9 renewals & change in circumstances
  Acceptance rules, renewal cadence (T-90/60/30), CiC workflow, and reviewer-ready evidence.
• Data dictionary — structuring sources → targets, transformations & versioning
  A single source of truth for data rules, mappings, and version control used across reporting & assurance.
• U.S. TIN collection & formatting — hygiene, rejects & validation tips
  Capture & validate TINs, name/TIN alignment, and patterns that trigger rejections.
• Reporting (Form 8966) — local IGA portals, mapping & validations
  From schemas and mappings to validations and the evidence reviewers expect.
• Corrections & re-filings — practical workflows & evidence
  Correction codes, end-to-end workflows, and what to archive for auditability.
• Sponsored structures — sponsors & sponsored FFIs (registration, GIINs, documentation & control)
  How to structure sponsor/sponsored relationships and keep documentation/control reviewer-ready.
• Model 1 vs Model 2 — practical nuances for foreign banks
  Operational differences, data flows, and competent-authority touchpoints you must plan for.

Quick start (recommended order)

1. Set governance & RO timeline; align your annual control calendar.
2. Harden documentation lifecycle (W-8/W-9) and GIIN monitoring.
3. Publish a data dictionary; fix U.S. TIN hygiene and validation rules.
4. Lock reporting & corrections workflows; rehearse reviewer evidence.

Related services

• FATCA services for foreign banks (Chapter 4)