FATCA Pass-Through 2017 A Vital Guide for Financial Institutions' Compliance

effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden ... Importantly, from 1 January 2017,. Participating FFIs must deduct withholding on payments to non-participating or uncooperative FFIs (“passthru payments ... account holders before January 1, 2017. The proposed regulations ... FATCA withholding on foreign passthru payments begins. Full ... The full compliance date for pass-through obligations has been further extended to. 1 January 2017. Amidst concerns that European banks and other financial ... pending FATCA and non-FATCA related U.S. ... foreign passthru payments” will not be subject to withholding any 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 ... to (i) non-FATCA-compliant foreign ... 2017, the earliest. Additional regulations will be issued to provide guidance on passthru payments. The February Proposed Regulations extend the date on which FATCA withholding begins on foreign pass-thru payments from 1 January 2015 to 1 January 2017. U.S. withholding tax will apply to foreign passthru payment to a recalcitrant account holder or a nonparticipating FFI that is made after the ... The IRS issued proposed regulations under the Foreign Account Tax Compliance Act (FATCA) regarding withholding on certain payments that was ...