FATCA Compliance Made Simple Pass-Through Payment Reporting for 2019

Such an FFI would be treated as a Participating FFI (PFFI). What are the consequences to an FFI of not complying with FATCA? Non-compliance potentially carries ... The regulations provided that withholding on Passthru. Payments will not begin before the later of January 1, 2019, or the date the final reg-. If a non-US entity hasn't submitted a valid FATCA certification, they're subject to 30% FATCA withholding on bank deposit interest. The payment ... 1474, commonly referred to as FATCA) requires withholding agents to withhold 30% of certain payments to a foreign financial institution (FFI) ... In September 2015, the US IRS announced that withholding on foreign passthru payments would not apply until 1 January 2019 at the earliest. Pursuant to IRC Section 1471(a) and 1472, FATCA requires 30% withholding on certain U.S.-source payments to foreign financial institutions and ... January 1, 2019: Withholding on “passthru payments” will become effective the later of January 1, 2019 or the date of publication of the final regulations ... ... passthru payments (until 2 years after the definition of such payments appears in final regulations), (3) elimination of withholding on non ... A “passthru payment” is defined in the regulations to mean a withholdable payment and any foreign passthru payment. The FATCA regulations ... Withholding on payments of gross proceeds would be removed from the regulations; · There would be a deferral of withholding on foreign pass thru ...