Finland: Updated FATCA technical guidance
Updated version (v2.9) of FATCA technical guidance was issued by the tax administration
Updated version (v2.9) of FATCA technical guidance was issued by the tax administration
The Finnish tax administration issued an updated version (v2.9) of FATCA technical guidance.
The changes in the FATCA technical guidance concern:
- If corrections are submitted to a return that has already been corrected, for instance if a second set of corrections are being made to the original return, the CorrMessageRefId and CorrDocRefId elements must include a reference to the MessageRefId and DocRefId elements of the original return.
- If the reporting financial institution and/or sponsor structure needs a correction, the corrected return must contain all of the account report structures.
- If the sponsor structure was used in the return to be corrected, the same needs to be used in the corrected return. The CorrMessageRefId and CorrDocRefId of the sponsor structure must refer to the original return, unless the account report structure to be corrected has been previously corrected.
Read a September 2022 report [PDF 351 KB] prepared by the KPMG member firm in Finland
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.