Panama: Registration and deactivation process for FATCA and AEOI portal
Resolution No. 201-2572 provides the registration and change of user or deactivation process for entities on the FATCA and AEOI portal.
Registration and deactivation process for FATCA and AEOI portal
Resolution No. 201-2572 (dated April 22, 2024, and published in official gazette no. 30026 on May 8, 2024) provides the registration and change of user or deactivation process for entities on the FATCA and AEOI portal.
- All financial institutions that identify reportable accounts must be registered in accordance with Law 47 of 2016 (FATCA Law) and Law 51 of 2016 (Automatic Exchange of Information).
- Financial institutions that have not detected any financial account identified as reportable must register to make the declaration indicating that they do not maintain reportable accounts with respect to said calendar year.
- Reporting entities that have adopted the necessary measures to guarantee the implementation and compliance of the obligation to submit the country-by-country (CbC) report or any other obligation in accordance with the provisions established in Decree 46 of 2016, must also register.
Read a May 2024 report (Spanish) prepared by the KPMG member firm in Panama
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