This guide expands on the DocSpec elements section of the IGOR XML Reporting Guide, giving XML samples for correcting US FATCA reports.
Corrections must be provided to IGOR by uploading XML which conforms to the US FATCA XML Schema. This XML need only contain the elements which are identified in the IGOR interface as containing an error.
You may be required to submit corrections to any correctable element of the US FATCA XML schema. These are:
The XML of each of these elements contains a mandatory 'DocSpec' element.
The DocSpec elements of a correction message must be populated correctly, in accordance with the following instructions, in order to tell IGOR which previously reported element you are correcting in each corrected element of your message. You cannot meet your obligations to correct errors by resubmitting the previous XML with corrected data.
A correctly populated DocSpec element for a correction will contain the following elements:
You can correct any number of errors in an XML message, and can even combine corrections for multiple original returns in a single correction message.
Also note that you can use the DocRefId of any previous version of an element as the CorrDocRefId of its correction. This was a design choice made to facilitate integration with back office systems, as it avoids the need to store additional identifiers purely for tracking FATCA corrections.
When correcting an AccountReport, Sponsor, or Intermediary, you must repeat the corresponding ReportingFI. The ReportingFI details must be supplied exactly as they were in the original report (unless the ReportingFI itself requires correction), and the DocSpec must be populated as for an element correction, with a CorrMessageRefId and CorrDocRefId which references the the ReportingFI element which contained the AccountReport being corrected.
Other than this, IGOR does not require you to repeat any elements other than those which require correction.
The advice in this document only applies to FIs reporting in Guernsey sending corrections to IGOR. The correct XML usage for sending corrections to the IRS is not fully defined at the time of writing, and from the information currently available, looks set to be considerably more complex to implement than the IGOR usage.
In Guernsey, this implementation complexity will be handled by the administration functions of IGOR (which are operated by the States of Guernsey Revenue Service). IGOR will translate the correction reports received from Reporting Guernsey Financial Institutions in the format described here into the format required by the IRS.
This means that if your organisation has reporting obligations in other jurisdictions, either via IDES under a Model 2 IGA, or to another Competent Authority via another portal, you must seek separate advice from the relevant authority on how your corrections must be formatted.
In order to upload the correction XML to IGOR, use the same 'submit return' function as you used to submit the original return.
IGOR does not change the original data when you submit a correction. It will continue to hold both the version from the original return, and both will be visible to you via the IGOR web interface. IGOR also provides a screen where you can view the outcome of all returns and corrections
If you want to test a correction, then you can do this by submitting your original return and the correction to an IGOR test organisation. Corrections submitted this way will have no effect on the data in your live organisation.
If you upload a correction to your live organisation which is accepted by IGOR and does not have the effect you expect, you can use the 'replace return' function of IGOR to replace your correction message.
The following complete XML sample contains a single AccountReport with an invalid TIN containing only 8 digits:
<?xml version="1.0" encoding="utf-8"?>
<ftc:FATCA_OECD version='1.1'
xmlns:ftc='urn:oecd:ties:fatca:v1'
xmlns:sfa='urn:oecd:ties:stffatcatypes:v1'>
<ftc:MessageSpec>
<sfa:SendingCompanyIN>ABC123.12345.SL.831</sfa:SendingCompanyIN>
<sfa:TransmittingCountry>GG</sfa:TransmittingCountry>
<sfa:ReceivingCountry>GG</sfa:ReceivingCountry>
<sfa:MessageType>FATCA</sfa:MessageType>
<sfa:MessageRefId>m1</sfa:MessageRefId>
<sfa:ReportingPeriod>2014-12-31</sfa:ReportingPeriod>
<sfa:Timestamp>2015-06-04T10:24:46</sfa:Timestamp>
</ftc:MessageSpec>
<ftc:FATCA>
<ftc:ReportingFI>
<sfa:TIN issuedBy='US'>ABC123.12345.SL.831</sfa:TIN>
<sfa:Name>ABC Holdings</sfa:Name>
<sfa:Address>
<sfa:CountryCode>GG</sfa:CountryCode>
<sfa:AddressFree>1 High Street / St Peter Port / GY1 1AA</sfa:AddressFree>
</sfa:Address>
<ftc:DocSpec>
<ftc:DocTypeIndic>FATCA1</ftc:DocTypeIndic>
<ftc:DocRefId>fi1</ftc:DocRefId>
</ftc:DocSpec>
</ftc:ReportingFI>
<ftc:ReportingGroup>
<ftc:AccountReport>
<ftc:DocSpec>
<ftc:DocTypeIndic>FATCA1</ftc:DocTypeIndic>
<ftc:DocRefId>ar1</ftc:DocRefId>
</ftc:DocSpec>
<ftc:AccountNumber>12-34-56-78-90</ftc:AccountNumber>
<ftc:AccountHolder>
<ftc:Organisation>
<sfa:ResCountryCode>US</sfa:ResCountryCode>
<sfa:TIN issuedBy='US'>12345678</sfa:TIN>
<sfa:Name>The Org</sfa:Name>
<sfa:Address>
<sfa:CountryCode>US</sfa:CountryCode>
<sfa:AddressFree>The Address</sfa:AddressFree>
</sfa:Address>
</ftc:Organisation>
<ftc:AcctHolderType>FATCA101</ftc:AcctHolderType>
</ftc:AccountHolder>
<ftc:AccountBalance currCode='USD'>12345.67</ftc:AccountBalance>
</ftc:AccountReport>
</ftc:ReportingGroup>
</ftc:FATCA>
</ftc:FATCA_OECD>
A valid correction message which corrects the AccountReport, specifying a new TIN, is as follows:
<?xml version="1.0" encoding="utf-8"?>
<ftc:FATCA_OECD version='1.1'
xmlns:ftc='urn:oecd:ties:fatca:v1'
xmlns:sfa='urn:oecd:ties:stffatcatypes:v1'>
<ftc:MessageSpec>
<sfa:SendingCompanyIN>ABC123.12345.SL.831</sfa:SendingCompanyIN>
<sfa:TransmittingCountry>GG</sfa:TransmittingCountry>
<sfa:ReceivingCountry>GG</sfa:ReceivingCountry>
<sfa:MessageType>FATCA</sfa:MessageType>
<sfa:MessageRefId>m2</sfa:MessageRefId>
<sfa:ReportingPeriod>2014-12-31</sfa:ReportingPeriod>
<sfa:Timestamp>2015-11-04T17:00:26</sfa:Timestamp>
</ftc:MessageSpec>
<ftc:FATCA>
<ftc:ReportingFI>
<sfa:TIN issuedBy='US'>ABC123.12345.SL.831</sfa:TIN>
<sfa:Name>ABC Holdings</sfa:Name>
<sfa:Address>
<sfa:CountryCode>GG</sfa:CountryCode>
<sfa:AddressFree>1 High Street / St Peter Port / GY1 1AA</sfa:AddressFree>
</sfa:Address>
<ftc:DocSpec>
<ftc:DocTypeIndic>FATCA4</ftc:DocTypeIndic>
<ftc:DocRefId>fi1</ftc:DocRefId>
<ftc:CorrMessageRefId>m1</ftc:CorrMessageRefId>
<ftc:CorrDocRefId>fi1</ftc:CorrDocRefId>
</ftc:DocSpec>
</ftc:ReportingFI>
<ftc:ReportingGroup>
<ftc:AccountReport>
<ftc:DocSpec>
<ftc:DocTypeIndic>FATCA2</ftc:DocTypeIndic>
<ftc:DocRefId>ar1</ftc:DocRefId>
<ftc:CorrMessageRefId>m1</ftc:CorrMessageRefId>
<ftc:CorrDocRefId>ar1</ftc:CorrDocRefId>
</ftc:DocSpec>
<ftc:AccountNumber>12-34-56-78-90</ftc:AccountNumber>
<ftc:AccountHolder>
<ftc:Organisation>
<sfa:ResCountryCode>US</sfa:ResCountryCode>
<sfa:TIN issuedBy='US'>123456789</sfa:TIN>
<sfa:Name>The Org</sfa:Name>
<sfa:Address>
<sfa:CountryCode>US</sfa:CountryCode>
<sfa:AddressFree>The Address</sfa:AddressFree>
</sfa:Address>
</ftc:Organisation>
<ftc:AcctHolderType>FATCA101</ftc:AcctHolderType>
</ftc:AccountHolder>
<ftc:AccountBalance currCode='USD'>12345.67</ftc:AccountBalance>
</ftc:AccountReport>
</ftc:ReportingGroup>
</ftc:FATCA>
</ftc:FATCA_OECD>
The MessageSpec element for a correction message is similar to the original return:
<ftc:MessageSpec>
<sfa:SendingCompanyIN>ABC123.12345.SL.831</sfa:SendingCompanyIN>
<sfa:TransmittingCountry>GG</sfa:TransmittingCountry>
<sfa:ReceivingCountry>GG</sfa:ReceivingCountry>
<sfa:MessageType>FATCA</sfa:MessageType>
<sfa:MessageRefId>m2</sfa:MessageRefId>
<sfa:ReportingPeriod>2014-12-31</sfa:ReportingPeriod>
<sfa:Timestamp>2015-11-04T17:00:26</sfa:Timestamp>
</ftc:MessageSpec>
Note we have generated a new Timestamp and a new MessageRefId. IGOR will not accept a message if the MessageRefId is a duplicate of a previous message for the same SendingCompanyIN.
Even though we are not changing the information contained in the ReportingFI element in any way, we must repeat the element because it is required by the US FATCA XML schema:
<ftc:ReportingFI>
<sfa:TIN issuedBy='US'>ABC123.12345.SL.831</sfa:TIN>
<sfa:Name>ABC Holdings</sfa:Name>
<sfa:Address>
<sfa:CountryCode>GG</sfa:CountryCode>
<sfa:AddressFree>1 High Street / St Peter Port / GY1 1AA</sfa:AddressFree>
</sfa:Address>
<ftc:DocSpec>
<ftc:DocTypeIndic>FATCA4</ftc:DocTypeIndic>
<ftc:DocRefId>fi1</ftc:DocRefId>
<ftc:CorrMessageRefId>m1</ftc:CorrMessageRefId>
<ftc:CorrDocRefId>fi1</ftc:CorrDocRefId>
</ftc:DocSpec>
</ftc:ReportingFI>
The DocSpec for the ReportingFI must be populated as described above. IGOR will not accept corrections of AccountReport elements unless the corresponding ReportingFI's DocSpec has been populated correctly.
The DocTypeIndic must be set to FATCA2 or FATCA4. Both are acceptable and mean the same thing to IGOR. (Note they do not mean the same thing to the IRS, but IGOR will amend the code to the right value when forwarding the correction.)
The DocRefId can a new unique value if desired, or it can left the same as in the original return. The CorrDocRefId must be populated with the same value (the DocRefId from the original return).
Unless you are correcting an error in the ReportingFI itself, the other fields of the ReportingFI must be left unchanged, as this new version of the ReportingFI will supersede the previously transmitted version.
The AccountReport DocSpec element must also be populated to indicate this is a correction to a previous version:
<ftc:AccountReport>
<ftc:DocSpec>
<ftc:DocTypeIndic>FATCA2</ftc:DocTypeIndic>
<ftc:DocRefId>ar1</ftc:DocRefId>
<ftc:CorrMessageRefId>m1</ftc:CorrMessageRefId>
<ftc:CorrDocRefId>ar1</ftc:CorrDocRefId>
</ftc:DocSpec>
<ftc:AccountNumber>12-34-56-78-90</ftc:AccountNumber>
<ftc:AccountHolder>
<ftc:Organisation>
<sfa:ResCountryCode>US</sfa:ResCountryCode>
<sfa:TIN issuedBy='US'>123456789</sfa:TIN>
<sfa:Name>The Org</sfa:Name>
<sfa:Address>
<sfa:CountryCode>US</sfa:CountryCode>
<sfa:AddressFree>The Address</sfa:AddressFree>
</sfa:Address>
</ftc:Organisation>
<ftc:AcctHolderType>FATCA101</ftc:AcctHolderType>
</ftc:AccountHolder>
<ftc:AccountBalance currCode='USD'>12345.67</ftc:AccountBalance>
</ftc:AccountReport>
Again, the DocTypeIndic must be set to FATCA2 or FATCA4, and we have copied the DocRefId into the CorrDocRefId.
The TIN has been amended to include the missing digit. Note that all other details of the AccountReport have been left unchanged. The full AccountReport element must be transmitted again, including all SubstantialOwner and Payment elements. If any element is removed, then this will supersede the previously transmitted version and effectively void those elements.
You can correct a Sponsor or Intermediary in exactly the same way as an AccountReport. You need only repeat the ReportingFI when correcting these elements, there is no need to repeat the AccountReports.
When correcting a ReportingFI element, only the ReportingFI needs to be included.
Note however that if you repeated the details of the same ReportingFI, Sponsor or Intermediary multiple times in your original returns, then you will need to produce a separate correction for each of those elements.