The revised draft Regulations have provisionally set a deadline of 31 December 2013 for Reporting Irish Financial Institutions to register with the Internal Revenue Service (IRS) for a Global Intermediary Identification Number (GIIN). Verification of GIIN numbers are not required for payments made prior to 1 January 2015 with respect to any payee that is a reporting Model I IGA financial institution. However, if a financial institution intends appearing on the first IRS foreign financial institution list being published on 2 June 2014, registration needs to be completed by 5 May 2014 (formally 25 April 2014). It is intended that the IRS will update the list on a monthly basis.