Ensure FATCA Compliance with Entrust SSL Certificates
FATCA was enacted in 2010 by the Internal Revenue Service (IRS) to create transparency for the reporting of foreign financial assets. This information is exchanged electronically through the International Data Exchange Service (IDES) for both Financial Institutions and Host Country Tax Authorities.
To attain FATCA compliance, the IDES requires that entities obtain an SSL security certificate provided by an authorized Certificate Authority (CA) prior to enrollment. The SSL Certificate provides security by encrypting data sent between the entity and the IRS. It also assigns a trusted identity with the message known as digital signing ensuring the identity of the sender and that the message had not been altered while in transit.
FATCA compliant Entrust Standard SSL Certificates meet requirements to safeguard FATCA data transmissions.