The case

On 2 July, the IRS announced that “this month, the IRS will no longer support the use of the existing FATCA account sign-in authentication methods to access the FATCA Registration System.” From then on, access to their FATCA homepages obliges Responsible Officers (and Points of Contact) to register with Login.gov or ID.me, the IRS’s “credential service providers”.

Source: IRS & Paul Foster Millen; Millen Tax & Legal GmbH

The commentary

Obviously, the nuisance factor of this undertaking is high, but the actual undertaking itself should prove bearable. The account/profile creation process will include verifying an email address, setting a password and instituting multi-factor authentication. While the “credential service providers” offer some highly intrusive authentication methods, such as face/touch unlock or a security key, there are several less intrusive authentication options available, including codes obtained via text/voice messages and backup codes. The IRS will notify system users directly as the deadline approaches, but with the school holidays nearly upon us, a brief team discussion over the registration of Responsible Officers and Points of Contact makes sense sooner, rather than later.

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