Run Package: FATCA Reporting & Ongoing Operations

Author: Alexander Fölsche, CPA (US), Wirtschaftsprüfer (Germany), Swiss Licensed Audit Expert

Execute your annual FATCA filings, handle corrections and back filings, and manage communications with authorities — across Model 1 local competent-authority reporting and Model 2 direct IRS reporting via IDES.

Scope is sized to your book and systems: from a simple annual extract and submission for a small client base to multi-entity, multi-jurisdiction reporting with IDES and national portals. Country-specific pricing is listed on the Countries pages.

Scope: Annual FATCA filings, Model 1 local authority reporting, Model 2 IDES submissions, corrections, back filings, authority liaison, operating controls, evidence packs and RO certification support.

Focus areas within the Run package

Who this is for

  • FFIs that completed Starter and Build, or equivalent internal setup, and need a dependable FATCA filing engine.
  • Institutions operating in one or many jurisdictions, Model 1 and/or Model 2, seeking uniform execution and audit-ready evidence.
  • Teams that want a managed cycle with clear SLAs, error handling, authority liaison and defensible documentation.

Outcomes

  • On-time, error-minimized submissions for each jurisdiction and entity.
  • Corrections and back filings processed with full versioning and evidence.
  • Audit-ready artifacts, including control calendar, logs, ACKs/receipts and reconciliation packs.

What we do

1) Annual Filing: Model 1 & Model 2

  • Data cut at year-end and eligibility logic for reportable accounts/entities.
  • Transform and validate: required fields, formats, DOB/TIN rules and consistency checks.
  • Build report files: local FATCA XML schema for Model 1 or Form 8966 XML for IDES in Model 2.
  • Submit and track: upload, monitor statuses, capture receipts/ACKs.
  • Evidence pack: runbook excerpt, controls performed, ACKs and management sign-off.

2) Corrections & Back Filings

  • Prepare and submit corrections for prior years, including replacements and voids as required by schema rules.
  • Back filings for missed periods, with remediation plan and authority liaison.
  • Maintain version history and a defensible audit trail.
Subtopic: Corrections, re-filings & audit trail
Detailed workflow, receipts/ACK handling and evidence packs: learn more.

3) Authority & Counterparty Liaison

  • Manage feedback and error codes from portals or IDES.
  • Coordinate with competent authorities as required.
  • Provide counterparties with status confirmations, including GIIN and reporting confirmations, on request.

4) Controls, Monitoring & Evidence

  • Operate the control calendar, including indicia sweep cadence and TIN reminder campaign checkpoints.
  • Maintain key risk indicators, exception queues and monthly or quarterly dashboards if required.
  • Retain checklists, logs and samples to meet internal audit and regulatory expectations.
Subtopic: Reporting — Form 8966, mappings & local portals
Mapping and validations for Form 8966 and national schemas, IDES and portal operations: see details.
Subtopic: RO certification support
CEIC drafts, evidence compilation and sign-off materials: how we help.

Filing cycle

  1. Kickoff & data request: confirm reporting year, jurisdictions, entities and deadlines.
  2. Pre-validation: TIN/DOB, indicia/curing status, schema fields and exception cleanup.
  3. Build report files: Model 1 XML or Form 8966 and quality checks.
  4. Submit and monitor: monitor acknowledgements and resolve errors with corrections if required.
  5. Close: evidence pack with ACKs, logs, reconciliations and management sign-off.

Scope & boundaries

Included: Annual filings, corrections and back filings, authority liaison, control calendar operation and evidence packs.

Not included: Registrations and GIIN (Starter), operating model design and mappings (Build), and independent health checks (Assurance).

Timeline & SLAs

We align the cycle with local deadlines, including Model 1 national submission windows and Model 2 IDES windows. Typical working SLAs include a draft file T–15 business days before the filing deadline and final submission T–5 business days before the deadline, subject to data availability and approvals.

Prerequisites

  • Completed Starter package, including GIIN and portal/IDES readiness, and Build package, including data mappings and validations, or equivalent internal setup.
  • Designated contacts for Compliance/RO, Operations and IT/data extracts.
  • Access to year-end data extracts and any change logs relevant to reportable accounts.

Helpful resources

Next steps

Ready to run your FATCA reporting cycle?
Confirm your jurisdictions on the Countries pages to view pricing and local details. If you still need operating model design or mappings, add the Build package first; otherwise proceed with annual filing, corrections and RO support.