FATCA Pass-Through A Critical Review for 2017

The full compliance date for pass-through obligations has been further extended to. 1 January 2017. Amidst concerns that European banks and other financial ... ... FATCA's “Passthru Penalty”; (4) the IGAs; and. (5) the FBAR ... 9We note that Senator Paul introduced a bill to repeal FATCA in April 2017. ... Foreign Account Tax Compliance Act ("FATCA"). FATCA is the government's ... passthru payments made after January 1, 2017. Additionally ... In June 2017, the IRS published corrections to the FATCA and chapter ... foreign passthru payment.” The Preamble reiterates that the ... Deferral of Effective Date of “Passthru Payment” Rules. The proposed regulations defer until at least 2017 the application of the rules ... The IRS issued proposed regulations under the Foreign Account Tax Compliance Act (FATCA) regarding withholding on certain payments that was ... U.S. withholding tax will apply to foreign passthru payment to a recalcitrant account holder or a nonparticipating FFI that is made after the ... Congress passed the Foreign Account Tax Compliance Act (FATCA) in 2010. FATCA requires both individual taxpayers and foreign financial institutions (FFIs) ... FATCA introduced a new reporting and tax withholding regime, effective July 1, 2014, that is directed at both foreign financial institutions ... Under FATCA, payments to foreign financial ... Withholding with respect to foreign passthru payments will not be required until 2017 at the.