Global Intermediary Identification Number (GIIN)

The Global Intermediary Identification Number (GIIN) is a unique identifier assigned to financial institutions for tax purposes. It was established by the U.S. Internal Revenue Service (IRS) as part of the Foreign Account Tax Compliance Act (FATCA). The GIIN helps the IRS track which foreign banks and investment entities comply with U.S. tax regulations and report information about U.S. account holders. Essentially, it ensures transparency and helps prevent tax evasion by making it easier for the IRS to identify and coordinate with global financial institutions.