Empower Your FATCA Passthru 2017 Reporting with Expert Insights

IRS Issues Final Regulations on FATCA · Delaying until January 1, 2017 the start date for withholding on gross proceeds from the sale, redemption, repurchase or ... Under FATCA, participating foreign financial institutions (FFIs) must agree to withhold at the 30% rate on foreign passthrough payments made to ... After January 1, 2017, FATCA will also apply to payments that are not purely U.S. sourced (“foreign passthru payments”). In the future, the ... On April 6, 2017, the Internal Revenue Service (the IRS) added three new frequently asked questions to its Foreign Account Tax Compliance ... It is expected that regulations will define the concept before 2017 to permit foreign passthru payment withholding to begin in 2017. 21 January 2013. Withholding on passthru payments prior to January 1, 2017 will be limited to payments by participating FFIs of U.S. source FDAP, such as payments of interest or ... With respect to withholding on passthru payments, the Proposed Regulations indicate that withholding will occur no earlier than January 1, 2017, ... just a starting point and only addressed some pieces of the basic FATCA structural framework. ... the IRS, and withhold on “passthru payments” (withholdable ... FATCA seeks to accomplish this goal by requiring foreign ... Delay withholding on foreign "passthru payments" until at least 2017. Further Suspension of Potential “Foreign Passthru Payment” Withholding. FATCA provides that certain payments by an FFI to a non-compliant ...