FATCA Passthru 2017 A Catalyst for Tax Transparency

• FATCA Transitional Rules for Gross Proceeds and Foreign Passthru Payments ... withholding from the original 1st January 2017 to the new starting ... The final regulations provide that an FFI is not required to withhold on foreign passthru payments until the later of January 1, 2017, or six months after the ... FATCA was enacted into law on March 18, 2010, as part of the HIRE Act. Under FATCA, Foreign Finaicial Institutions (FFIs) may register with the IRS and agree to ... ... foreign passthru payments will begin;. (2) the use of limited ... 2017. A limited FFI or limited branch that becomes able to comply with ... During 2017, the committee continued its dialogue with IRS officials regarding reporting requirements under the Foreign Account Tax Compliance ... on 'foreign pass thru payments' which is included in the US provisions. ... April 2017, a list of those persons must be sent to the TIA by 31 May 2017 so ... The proposed regulations contemplate the beginning of withholding on foreign Passthru Payments no earlier than 2017, but do not define or elaborate on the ... Foreign passthru payments made to recalcitrant account holders and nonparticipating FFIs by a participating FFI are also subject to withholding; ... With respect to withholding on passthru payments, the Proposed Regulations indicate that withholding will occur no earlier than January 1, 2017, ... Under FATCA, participating foreign financial institutions (FFIs) must agree to withhold at the 30% rate on foreign passthrough payments made to ...