GIIN (Global Intermediary Identification Number)

The GIIN (Global Intermediary Identification Number) is a unique identifier assigned to financial institutions and entities registered under the U.S. Foreign Account Tax Compliance Act (FATCA). Its purpose is to facilitate international cooperation in preventing tax evasion by enabling governments and financial institutions to easily verify each other's compliance status. When an entity registers with the IRS to comply with FATCA, it receives a GIIN, which is then used in financial transactions and reporting to demonstrate its adherence to tax laws, fostering transparency across global financial systems.