Please note that Amend only applies to FATCA.
When the FI wants to make changes to the submitted FATCA XML file, you must select the option Amend.
When the IRS has returned an error message and request the FI for a correction, this must be done with the option Correct.
Go to the Reporting < Dashboard.
Click on Message ID
Select the Action > Amended: Ready to be reported and Save
Now go back to > Remediation
If the amended entry is an individual, select the tab > Individual, if it is an entity, select the tab > Entity.
The record to be amended will have change its Transmission Status to Amended: Ready to be reported.
Now the data can be amended by selecting the edit icon to change the customer’s information and/or the Total Balance number to change the information in an account.
For the example in this guide, a first name has been changed to the customer.
Make sure that the Transmission Status remains Amended: ready to report. You may have to select it again in the remediation screen.
Go back to the Reporting module and go to Tax Authority Reporting.
Here you must select the Transmission Status > Amended: Ready to report and hit Stage New Data
In the Staged Data tab, check the PDF and XML
The PDF should have the box “Amended Report” checked
The XML should have DocTypeIndic FATCA14, a CorrMessageRefID and a CorrDocRefID.
Then submit to Tax Authorities
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**Tax Authority Portal users: Any resubmission as correction, void, or amend for both FATCA and CRS must be done through the CRS/FATCA One Portal. You cannot upload a corrected, amended, or voided XML file into your batch!
Upon submission of the original uploaded XML file to the local Tax Authority, the CRS/FATCA One system will change all the Message/DocRefIDs. When resubmitting through the Portal it will automatically take the CorrMessage and/or CorrDocRefIDs according to the submitted file!