Demystifying FATCA Passthru Payment Withholding A Comprehensive Guide for Taxpayers

withholding. ▫ Compliance date is January 1, 2019 for withholdable payments that are gross proceeds or “pass-thru” payments. ▫ Reporting Model 1 FFI had ... FATCA creates a new information reporting and withholding regime for payments made to certain foreign ... In addition, an FFI must withhold 30% on any passthru ... with FATCA's reporting, withholding, and account closure requirements. ... foreign pass thru payments until January 1, 2017, two years later than in. (C) A foreign passthru payment subject to withholding under chapter 4. (ii) ... FATCA Report,” regardless of whether withholdable payments are made to such ... ... FATCA reporting and passthru payment withhold ... on the question of foreign passthru payment withholding,23 stated that foreign financial institu ... The proposed regulations defer withholdings on pass-through payments. A pass-through payment is any payment made by a foreign financial ... ... withholding on foreign-source passthru payments will begin no earlier than 2017. Thus, a non-participating foreign fund could be subject to 30% withholding ... However, Participating FFIs generally will be required to report (but not withhold on) foreign passthru payments made to non-Participating FFIs. ... withholding tax on “withholdable payments” to a Foreign ... passthru payments to withholding only if they are directly traceable to withholdable payments. 8488, March 8, 2019, the IRS scheduled an April 10 public hearing on the following proposed regulations eliminating withholding on payments of ...