Another FATCA reporting extension for Malta financial institutions

A further deadline extension has been granted to Malta Financial Institutions after the initial FATCA reporting dates of 30 April, then 15 June and following this, 3 July. The Maltese Commissioner for Revenue is now accepting information on US "reportable accounts" until 31 July 2015.

The Commissioner for Revenue has also published an updated version of the FATCA Guidelines in order to provide further clarification - download the .PDF here.

Updated sections of the Version 2 document are listed in Section 1 and include: 

  • Section 2: 2.2.1, 2.2.3, 2.2.6, 2.3, 2.5, 2.18, 2.20, and 2.21(new Section),
  • Section 3: 3.1, 3.2, 3.3, and 3.5
  • Section 5: 5.14.6, 5.19.1, 5.21.1, 5.21.4, 5.22, 5.22.1, 5.22.2, 5.22.8.1, 5.22.8.2, 5.23.1, 5.23.2 and 5.23.6
  • Section 6: 6.7.1.1, 6.7.1.7

Reporting Malta Financial Institutions will not incur any penalties provided they submit required information on US Reportable Accounts (for calendar year 2014) to the Commissioner by the new deadline.

The 31 July reporting exception applies to 2015 only.

Click here to find out more about doing business in Malta and how TMF Group can help.

Get news like this straight to your inbox by signing up to our e-Alerts.

Keeping up to date

You can now receive our insights and regulatory updates direct to your inbox by choosing the topics and jurisdictions that most interest you. 

Subscribe to our e-Alerts.