FATCA - IRS releases updated FATCA XML user guide 

June 11: The IRS posted an updated version of Publication 5124, FATCA XML v1.1, User Guide for use in creating FATCA reports.

The 31-page Publication 5124 [PDF 1.6 MB] explains the information required to be included in each data element of the FATCA XML schema v1.1. The updated user guide provides some clarifications and other minor updates.

The IRS publication is divided into sections based on the schema and provides information on specific data elements and any attributes that describe that data element.

When a data element is not used for FATCA reporting, the associated attribute(s) are also not used. The requirement field for each data element and its attribute indicate whether the element must be included in the schema (mandatory or validation), is optional, or is not used for FATCA (null).

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