Australia: Updated guidance on extension of temporary relief for missing U.S. TINs

Australian reporting financial institutions must meet the requirements outlined in Notice 2024-78.

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November 12, 2025

The Australian Taxation Office (ATO) on October 27, 2025, issued an update reflecting the extension granted by the U.S. tax authority (IRS) under Notice 2024-78 to the temporary relief originally provided under Notice 2023-11 for foreign financial institutions that are unable to obtain and report U.S. taxpayer Identification numbers (TINs) for specified pre-existing U.S. reportable accounts. The extension now covers the reporting years 2025, 2026, and 2027.

To benefit from this relief and avoid receiving a non-compliance notice from the IRS, Australian reporting financial institutions must meet the requirements outlined in Notice 2024-78.

Additionally, reporting financial institutions are required to retain records of relevant policies, procedures, and compliance actions until 2031 for potential regulatory review.

Read a November 2025 report prepared by the KPMG member firm in Australia

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