Japanese Bankers Want More Time to File FATCA Certification

April 30, 2021

Internal Revenue Service
Room 5203
PO Box 7604
Ben Franklin Station,
Washington, D.C. 20044

A request for an extension of the due date to submit a FATCA certification

Dear Sir/Madam:

The Japanese Bankers Association ("JBA") expresses its gratitude for this opportunity to express our desire to request for an extension of the due date to submit a FATCA certification under the Foreign Account Tax Compliance Act (“FATCA”).

JBA is the leading trade association for banks, bank holding companies operating in Japan and bankers associations in Japan and currently has a total of 250 member institutions.

The JBA conducts various activities both domestically and internationally in order to contribute to a sound and successful banking system that benefits the growth of Japanese economy, and the JBA also promotes compliance of the member banks, proper banking transactions, and consumer protections. Almost all banks operating in Japan are our members.

JBA member banks understand the purpose and significance of FATCA, and have been making good faith efforts to comply with the FATCA requirements.

However, amid the spread of COVID-19 in Japan, our banks have implemented measures to prevent the spread of the infection, in accordance with relevant guidelines issued by the Japanese government, such as limiting the number of employees in the office, and it is difficult to submit a FATCA certification due on July 1, 2021.

A FATCA certification that was due on July 1, 2020 had been extended to December 15, 2020 as a remedy for the COVID-19 pandemic.

Since the serious situations are continuing, we respectfully request that the due date for FATCA certification be extended to a later date from current July 1, 2021 as a relief for the COVID-19 pandemic.

We respectfully hope that these requests be considered, and that necessary relief be granted.

Japanese Bankers Association