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Hello and welcome to this first look at the AEOI Hub IDES encryption tool. The International Data Exchange Service (IDES) is used by the US Internal Revenue Service (IRS) to receive FATCA data. This is used by tax authorities in model one jurisdictions to send data thats been collected from Financial Institutions. So if you are in one of these countries and your tax authority received your FATCA data, you dont need to worry about IDES. But its also used by Financial Institutions in model 2 jurisdictions, or where theres no intergovernmental agreement with the US, to send data directly to the IRS. When the IDES is used, data must be signed, encrypted and compressed before sending. The good news is that weve created a free tool that will do that for you which were going to demonstrate now. Before we get started you need three key things; you need your XML file thats been prepared for the FATCA report (which you may have prepared using AEOI Hub), you ne
