Fatca reporting – Features

Fund XP developed an effective solution to produce your FATCA XML reports in the required format (XML).
  • Ergonomic XLS spreadsheets based
  • Automatic production based on extracts.

We build reports using complete automatic processes and automated validation checks. We stay up-to-date with the latest specifications, ensuring that our software reflects any changes or updates. This way, your reports are always compliant with the current regulatory standards.

Optionally, we can act as a technical sender and do the filing to the authorities.


    The FUND XP solution is able to automate the process of gathering and organizing the required information from multiple sources.


    Robust controls in place to prevent errors or omissions.


    The solution is able to handle multiple jurisdictions reporting formats.


    Our fully automatic solution enables AIFMs to meet the required reporting deadlines.


    The solution is easy for users to understand and use, with clear instructions and intuitive interfaces.


    Free adequate support and helpdesk.

What is FATCA reporting?

FATCA (Foreign Account Tax Compliance Act) reporting refers to the requirement imposed by the United States government on certain individuals and entities to report their financial accounts held outside of the United States. FATCA was enacted to combat tax evasion by U.S. taxpayers who hold assets in offshore accounts.

Under FATCA, U.S. taxpayers, including individuals, corporations, partnerships, trusts, and estates, are required to report their foreign financial accounts if the aggregate value of those accounts exceeds certain thresholds. Additionally, foreign financial institutions (FFIs) are required to report information about financial accounts held by U.S. taxpayers to the IRS, or else face withholding taxes on certain U.S. source payments.

FATCA NIL reporting

Luxembourg Reporting Financial Institutions are required to communicate a zero value message (ZeroReporting) when they do not have Reportable Accounts.

We can provide cost efficient solution to produce your Zero reporting including the filing to the ACD.

Which FATCA account holders should be reported?

Fatca account holder flow chart

What should be reported?

  • Financial Institution Information: This includes the name, address, and tax identification number of the financial institution holding the account.
  • Account Holder Information: This includes the name, address, tax identification number (TIN), date of birth, and country of tax residence of the account holder.
  • Account Information: This includes the account number, type of account, and the balance or value of the account.
  • Income Information: This includes details of interest, dividends, and other income generated by the account.
  • Controlling person: This includes the name, address, tax identification number (TIN), date of birth, and country of tax residence of the controlling person.

What is the consequence of incorrect or delayed submission of Fatca reports?

In the event of either a complete failure to submit a report or a delayed filing of a NIL return, these institutions may be held accountable for a fixed fine of EUR 10,000. However, Luxembourg reporting financial institutions have the opportunity to present justifications, such as a change in legal status, to the ACD before this fixed fine is enforced.

Additionally, these reporting financial institutions could face fines of up to EUR 250,000 if, following an audit by the ACD, it is determined that they have not fulfilled their obligations as required.