Empowering Global Compliance A Comprehensive Guide to FATCA Passthru 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 was the revenue-raising portion of the 2010 domestic jobs stimulus bill, the Hiring Incentives to Restore Employment (HIRE) Act, and was enacted as ... "Passthru" Payments. Under the Proposed Regulations, withholding will not be required with respect to "foreign passthru payments" before January ... 2017, https://www.taxconnections.com/taxblog/fatca-causing-record ... FATCA “Passthrough Penalty”).68 Recalcitrant account holders are ... (from 1 January 2017); and. □ 'foreign passthru payments' (foreign source payments originating from an FFI, to the extent 'attributable to ... account holders before January 1, 2017. The proposed regulations ... FATCA withholding on foreign passthru payments begins. Full ... Controversially, FATCA orders every foreign bank to track down ... foreign passthru payments before January 1, 2017. Until withholding ... U.S. withholding tax will apply to foreign passthru payment to a recalcitrant account holder or a nonparticipating FFI that is made after the ... This is linked to the reporting requirements, which do not mandate the reporting of gross proceeds until some point in 2017, under Article 2. Fatca preparation ... Importantly, from 1 January 2017,. Participating FFIs must deduct withholding on payments to non-participating or uncooperative FFIs (“passthru payments ...