FATCA reporting is around the corner. Now if you’re looking for information how to create an FATCA XML file to upload for the IRS IDES portal, chances are you work for a bank or another financial institution. And you have no idea how to create or need an example to create such a thing. Well, you’re in the right place
Now fair warning , I created this application to make my life easier. Identifying FATCA clients is not my job, but creating web related items is. A few years ago when this was implemented, the company which I work for had no idea how to begin. And being the techie than I am… I read the manual….ugh… man I hate that part.
But yeah, what’s gibberish to some , is plain readable to me. It took me a few weeks or so to understand everything but when you have to this every year, you kinda know the ins and outs.
So that’s not what you want to hear, you just want to know how. Ok pal, here it is.
I just created a simple application that does it all for you. And by all I mean it creates the XML payload file. Encrypting and compressing the XML you gotta do on your own.
Assuming you’re still reading this I don’t have to explain what and who FATCA is and you already got some links and guides. But you just want results.
FATCA Payload XML Generator
And here it is.
Just go to this application and all you have to is fill in an Excel template , upload, check validation and download. That’s it.
For those who are wondering how I did this, I just used the following libraries or templates :
- Bootstrap basics
- PHP spreadsheet
- jQuery
Before building this application, I already looked for online options. I Googled ” Create FATCA XML File from Excel” , “FATCA vs XML” , “Online XML generator for FATCA”. I found a few, but none of them were free and they didn’t meet the requirements. So I decided to build my own application.
If you have any suggestions or improvements, let me know in the comments.
