What is a GIIN, and how is it used in FATCA reporting?

A GIIN (Global Intermediary Identification Number) is a 19-character identification number assigned to a Participating Foreign Financial Institution (PFFI) or Registered Deemed Compliant FFI for FATCA purposes. Each GIIN identifies the financial institution and its branches (excluding Limited Branches and U.S. branches) in different jurisdictions.

The GIIN is issued after the financial institution’s FATCA registration is submitted and approved. It allows the institution to identify itself to withholding agents and tax administrations for FATCA reporting.

The GIIN is composed of several identifiers:

• FATCA ID: A unique ID for accessing the institution’s FATCA account (6 characters for most FIs, 12 for Member FIs).

• Financial Institution Type: Indicates whether the FI is Single, Lead, Member, or Sponsoring Entity.

• Category Code: A two-character code for the FI type or branch.

• Country Identifier: A numeric ISO 3166-1 code representing the FI’s country of residence or the branch’s country.

The IRS updates the list of GIINs monthly to add or remove financial institutions or branches.