Financial agents, attention!

The US Internal Revenue Service has notified the State Tax Service of Ukraine about the start of open testing at the International Data Exchange Service (hereinafter – IDES) in preparation for implementation of the Agreement between the Government of Ukraine and the United States to improve tax compliance and apply provisions of the U.S. Foreign Account Tax Compliance Act (FATCA).

Important dates for testing in the IDES:

- Registration deadline: Wednesday, June 2, 2021 at 5:00 PM Eastern Standard Time (Thursday, June 3, 2021 at 12 AM Kyiv time).

- Start: Monday, June 7, 2021 at 8 AM Eastern Daylight Time (Tuesday, June 8, 2021 at 3 AM Kyiv time).

- End: Wednesday, July 7, 2021 at 5 PM Eastern Standard Time (Thursday, July 8, 2021 at 12 AM Kyiv time).

More information about open testing at the IDES is at: https://www.irs.gov/businesses/corporations/ides-testing-schedule.

It is recommended for all financial institutions obliged to report on accountable accounts to register in the International Data Exchange Service (IDES) and participate in the open IDES testing. For testing, it is offered to prepare and send reports particularly but not exclusively for 2020.

Communicate with the State Tax Service remotely using the “InfoTAX” service