Comply Connect
2026 Tax Reporting & Withholding Conference Key Takeaways
Key takeaways from the 2026 Tax Reporting & Withholding Conference, including IRIS transition, 1042-S updates & IRS enforcement trends.
Lauren Pierce May 15, 2026
Coming Up in August 2026:
Bahamas
As a reminder, the Bahamas Competent Authority advises that the closing date for the AEOI Portal for FATCA, CRS & CbC-AEOI reporting is Monday, August 31, 2026, at 9am EST.
IRS & Treasury Updates July 2026:
Foreign Filer Transmitter Control Code Registration System
On July 2, 2026, the IRS published Issue Number 2026-05 announcing that the new Foreign Filer Transmitter Control Code (TCC) Registration System is now available.
As previously announced, the Filing Information Returns Electronically (FIRE) system will be retired this calendar year, with the Information Returns Intake System (IRIS) becoming the platform for returns required to be filed electronically in 2027. The enhanced access and authentication requirements may limit access for certain foreign filers whose authorized users do not have a U.S. taxpayer identification number. The IRS has developed the Foreign Filer TCC Registration System, which allows foreign filers with authorized users that do not have a SSN or ITIN to obtain a TCC Global Intermediary Identification Number (GIIN) and TCC for IDES enrollment.
IRS Publications and Instructions
During July, the IRS released the following publications and instructions:
- Instructions for Forms 1099-MISC and 1099-NEC (Rev. December 2026) Miscellaneous Information and Nonemployee Compensation
- Publication 1179 General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns
Join Our Mailing List
July 2026 FATCA, CRS and CARF Headlines:
Antigua and Barbuda
On July 17, 2026, the Inland Revenue Department of the government of Antigua and Barbuda published Circular No. 10 of 2026 to provide guidance to Reporting Financial Institutions on the remediation of preexisting accounts under CRS.
Australia
During June, the Australian Taxation Office (ATO) provided an update on FATCA XML Schema v2.0.1. The IRS has updated FATCA XML Schema files to v2.0.1. This new version revises certain attributes within the FATCA XML Schema v2.0 as provided by the ISO update, to align FATCA reporting with the International Organization for Standardization (ISO) country names updates and includes a few additional currency code updates. The ATO will now accept v2.0.1 and will continue to support the previous v2.0 schema files.
Canada
On July 2, 2026, the Canada Revenue Agency (CRA) released updated Guidance on the Common Reporting Standard, which reflects OECDs amendments to the Common Reporting Standard (CRS 2.0).
Germany
On July 3, 2026, the Federal Central Tax Office of Germany (BZSt) issued FATCA Newsletter 05/2026, which included updates on the following:
- Reporting the tax identification number of the account holder’s country of residence
- Release date of FATCA XML functionality
- Acknowledgment of technical difficulties when caching FATCA returns
- Errors affecting the reporting of duplicate TINs in FATCA returns
- Problems with the submission of Nil returns via Online Forms
Singapore
On July 8, 2026, the Inland Revenue Authority of Singapore (IRAS), published an updated IRAS User Guide for the Common Reporting Standard (CRS): IRAS XML Schema User Guide for CRS Return (Fourth Edition).
On July 31, 2026, IRAS also posted an update that it has prepared two infographics to provide existing Reporting Singaporean Financial Institutions and newly in-scope Reporting Singaporean Financial Institutions with an overview of the amendments to CRS.
Switzerland
On June 29, 2026, the State Secretariat for International Finance SIF of Switzerland published an update on the reciprocal Model 1 FATCA Intergovernmental Agreement (IGA) between Switzerland and the United States. On the basis of the Federal Council mandate adopted on October 8, 2014, Switzerland and the United States negotiated Model 1 of the FATCA agreement and signed it on June 27, 2024. The implementation process is currently under way and the earliest entry into force is now scheduled for January 1, 2029.
Table of Contents
By signing up, you agree to our Privacy Policy. You can unsubscribe at any time.
Written By
Lauren Pierce
Lauren has 15 years of experience in U.S. Information Reporting and Withholding. Prior to joining Comply, she worked in the Global Information Reporting and Withholding Practice at Deloitte, advising a variety of clients, including major financial institutions and multinational corporations, on Chapter 3, Chapter 61, FATCA, and CRS regulations. She also focused on documentation review and remediation, procedure enhancements, and reporting, including FATCA, CRS, 1099, 1042, and FBAR. Lauren is a graduate of Sacred Heart University in Fairfield, CT (BS in Accounting).
The Latest Updates
Comply Connect
The Latest IRS, FATCA and CRS News for March 2026
The March 2026 Comply Connect covers the latest IRS draft forms, proposed digital asset reporting regulations, and key FATCA and CRS updates.
Lauren Pierce April 1, 2026
Get to know the Comply Product Ecosystem
We offer a comprehensive product suite to support you throughout your tax compliance journey, from IRS form collection to error management and validation.
Our automated IRS tax form solution streamlines tax compliance for a diverse range of organizations. With a centralized document repository, it simplifies the collection, digitization, verification, validation, and storage of both paper and electronically submitted tax documentation.
A highly configurable, online interview process enabling the electronic collection of IRS Forms W-8, W-9, 8233 and self-certifications, together with real-time validation and leveraging the latest IRS rules and regulations.
Harnesses OCR and AI technology to automate data extraction from withholding statements, regardless of their format or complexity, while simultaneously building a W-8IMY structure.