https://gdsdata.blog.gov.uk/us-foreign-account-tax-compliance-act-fatca-self-certification/

US Foreign Account Tax Compliance Act (FATCA) - Self Certification

Self Certifications are run internally by each department, organised through their responsible Digital Leader. The Digital Leader will certify the service meets the Digital by Default service standard criteria. The Self Certification process is currently in Alpha, and will continue to be iterated on. Services with over 100,000 transactions a year will continue to be assessed by GDS.


The UK has negotiated a bi-lateral Inter Governmental Agreement with the US to exchange tax compliance information to facilitate UK Financial Institutions compliance with the US Foreign Account Tax Compliance Act (FATCA) and enable them avoid severe financial penalties. A steering group chaired by the Director TPA oversaw the negotiations and established that the implementation would be funded through the Policy Delivery Programme. The FATCA Project was set up in Enforcement & Compliance when the agreement was signed in 2013 and is charged with implementing the IT service needed to meet the UK commitment to collect, collate, and receive the required information, with the first exchange due to take place in October 2015. The project is part of a wider Offshore Data Programme which is coordinating the response to wide ranging framework of Automatic Exchange of Information agreements being negotiated under the auspices of the G5 group, the EU, and the OECD. The first phase of the FATCA IT solution is the facility for financial institutions to submit information about relevant accounts via a new digital service.

Department / Agency:
HMRC

Date of Submission:
3/10/2014

Assessment Stage:
Live

Lead Assessor:
R. Morgan

Service Manager:
T. Jenkins

Digital Leader:
M. Dearnley


Assessors Summary:

The project has been inflight since late 2012. Throughout the build cycle high street financial institutions have been involved in the development of this service and their feedback has been used in the development of this service. Assisted Digital has been addressed based on HMRC research and support is in place should need arise. The Assessing Panel consider that the service has met the digital by default service standards as agreed by the GDS Operations Board and approve the launch of the product. The assessment team therefore recommend to the Digital Leader that the FATCA service moves to live to meet the International Agreement deadlines.


Results Against the Digital by Default Criteria:

Criteria Passed Criteria Passed
1 Yes 2 Yes
3 Yes 4 Yes
5 Yes 6 N/A
7 Yes 8 N/A
9 Yes 10 Yes
11 N/A 12 Yes
13 N/A 14 N/A
15 N/A 16 Yes
17 Yes 18 Yes
19 Yes 20 Yes
21 N/A 22 N/A
23 N/A 24 N/A
25 Yes 26 Yes
Details of criteria that are not applicable to this service
6, 8, 13, 14, 15, 19 - Not applicable to Inflight Projects per GDS Operations Board Agreement
11 – this is a new service developed to support the Inter Government Agreement
21, 22,23, 24 - Not applicable to services with less than 100k transactions a year