Under the FATCA regulations, a Reporting SGFI is required to submit a return setting out the required information in relation to every US reportable account it maintains (i.e. the FATCA reporting data) on or before 31 May of the year following the calendar year to which the return relates. For Reporting Year 2014 only, IRAS is extending the filing deadline for Reporting SGFIs to submit their FATCA reporting data to 31 July 2015.
A Reporting SGFI that does not maintain any US Reportable Account for Reporting Year 2014 must provide a nil return by either
(i) preparing a FATCA reporting packet and transmitting it through the International Data Exchange Service (IDES) or
(ii) completing a paper FATCA Nil Return (which will be made available at a later date) and mailing it to IRAS by 31 July 2015.