FATCA Error Notifications: New Data, Amendments and Corrections

Key steps and distinctions

If IRAS rejects a return, fix the errors and resubmit all original records as New Data, including records without identified errors. None of that return was accepted, so an amendment or correction is inappropriate. If IRAS accepts the return with record-level errors, submit an Amended FATCA return for the affected records; a Correction return is reserved for errors highlighted by the U.S. IRS. Partner error codes 8021, 8023 and 8024 are exceptions: submit the erroneous records as New Data because those records were not processed by the U.S. IRS. Other partner-highlighted errors use the correction route. File checks include schema validity, unique message references and production DocTypeIndic values FATCA1 to FATCA4. ReportingPeriod and the selected online reporting year must match, as must DocTypeIndic and the online submission category. The GIIN must match the FI AEOI Profile, trust reference IDs must belong to trusts maintained by that FI, and third-party filers need Corppass authorisation. A prior nil return must be voided before submitting new data for that year. Read the precise notification before selecting the replacement return type.