GIIN validation, TIN/Name validation, and more - all in one place.
Los Angeles, CA (PRWEB) June 03, 2014
http://www.TINCheck.com introduces real-time GIIN validation as part of its featured list validation service. A GIIN, or Global Intermediary Identification Number, is a 19 digit identification number that is instrumental in the IRS's new FATCA legislation. In the near future, Foreign Financial Institutions (FFIs) will undoubtedly need to validate all GIIN information before filing the upcoming FATCA Form 8966.
"The IRS plans to update its FFI list on a monthly basis," says Director of Marketing Michael Stewart. "This indicates that the IRS expects FFIs to maintain up-to-date GIIN information for existing, and new, FFIs that have FATCA withholding requirements or Form 8966 reporting requirements."
Not surprisingly, TINCheck will take the grunt work out of the validation process. TINCheck automatically ensures that every GIIN validation request is processed against the most recent IRS FFI list and it will do it within seconds. Moreover, GIIN validation is integrated seamlessly with TINCheck's existing list validation services. TINCheck allows for a single click to validate TIN/Name combinations, Death Master File (DMF) combinations, Office of Foreign Asset Control (OFAC) combinations, and many more (for a complete list visit http://www.TINCheck.com).
Concerned parties can simply visit TINCheck's video demonstration or sign-up for a free TINCheck account if interested in learning more. Free trials can even be extended for companies that are using accounts to test TINCheck integration with internal systems.
When asked of additional FATCA services, Michael Stewart replied, "TINCheck works closely with http://www.FATCA-Comply.com in order to provide the full range of FATCA related services. FATCA-Comply is a solution that will provide an online filing service for Form 8957 as well as a software product for managing, printing, and filing the 2014 Form 1042-S and FATCA Form 8966."
It no doubt seems that TINCheck's partnership with FATCA Comply serves to provide a 360 degree FATCA solution of form management, security, and compliance. While the United States' FATCA implementation is only in the early stages, TINCheck and FATCA Comply have nevertheless established themselves as clear leaders in the market.
TINCheck was founded by a team of tax professionals that understand the difficulties in complying with multiple payee compliance regulations and have over 20 years experience in the industry of information reporting. TINCheck offers its services by providing a secure online interface that is capable of multiple, and simultaneous, list validation combinations (i.e TIN/Name, DMF, OFAC...)