Empowering Tax Compliance A Comprehensive Guide to FATCA Passthru 2017

"Passthru" Payments. Under the Proposed Regulations, withholding will not be required with respect to "foreign passthru payments" before January ... effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden ... Further Suspension of Potential “Foreign Passthru Payment” Withholding. FATCA provides that certain payments by an FFI to a non-compliant ... alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden. 3. Documentation of ... Importantly, from 1 January 2017,. Participating FFIs must deduct withholding on payments to non-participating or uncooperative FFIs (“passthru payments ... Under FATCA, certain types of financial institutions are required to register with the IRS or face a very significant penalty of 30 per cent withholding tax. be required to withhold on foreign passthru payments until January 1, 2017. Nevertheless, if the passthru payment itself is an Income ... An FFI may register on Form 8957, Foreign Account Tax. Compliance Act (FATCA) Registration, via the FATCA registration website available at. passthru payments starting in 2017. II. Grandfathered obligations: FATCA reporting and withholding will not apply to a payment under any ... Controversially, FATCA orders every foreign bank to track down ... foreign passthru payments before January 1, 2017. Until withholding ...