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2022 Update to Publication 5190!

On March 15, 2022, the Internal Revenue Service (IRS) made significant updates with the release of the 2022 revision of Publication 5190, the International Data Exchange Services (IDES) User Guide (02-2022). This revision marks the first update to Publication 5190 since July 2020 and includes several notable changes aimed at enhancing the functionality and usability of the IDES platform for international data exchange.

Key changes introduced in the 2022 revision of Publication 5190 include:

  • Section 2.4, System Availability. Updated supported browser section to include only Apple Safari (only on macOS), Google Chrome, Microsoft Edge, and Mozilla Firefox.
  • Sections 13.1-13.6, IDES Reports. Updated Items.
  • Section 13.7.4, Examples of Transmission Alerts. Updated Model 1 Option 2, RC030, Downloaded by the Host Country Tax Authority (HCTA) Reviewer. Here, the reviewer (sender country’s HCTA) must MOVE the file made available in the pending folder based on the expected action of .approved or .rejected. The update changes ‘rename the file’ to ‘move the file.’
  • Appendix F, IDES Testing Window. Updated to state that there is one annual open test window per year regardless of whether there have been changes to the FATCA Reporting process.

Overall, the 2022 revision of Publication 5190 represents a significant milestone in the evolution of the IDES platform, reflecting the IRS’s commitment to advancing international tax data exchange capabilities and promoting global tax transparency. By incorporating these changes, the IRS aims to provide users with a more robust and efficient platform for exchanging tax-related information with international tax authorities, ultimately facilitating compliance with global tax reporting requirements and enhancing tax administration on a global scale.

Check out the 2022 revision of Publication 5190 here:

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2022 Update to Publication 5190!

This document contains general information only and is not a substitute for accounting, tax, or any other professional advice or services. The information provided is considered accurate at the time of publishing and will not be updated with new regulation requirements.

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