FATCA Passthru Payment Withholding A Proactive Approach to Compliance

Participating Foreign Financial Institutions (PFFI) must therefore identify and document all accounts for clients susceptible of being US ... Under FATCA, payments of US source income to FFIs are subject to a 30% withholding tax unless the FFI is a participating FFI or otherwise exempt from ... ... withholding on foreign pass thru payments, eliminating withholding on certain insurance premiums, and clarifying the definition of investment The 30% withholding tax applies to all payments that are 'withholdable payments'. This is a very wide definition and includes a variety of US ... ... withholding on payment of gross proceeds (definition of FATCA ... passthru payments (until 2 years after the definition of such ... January 1, 2019: Withholding on “foreign passthru payments” will become effective the later of January 1, 2019 or the date of publication of the ... ... FATCA.60 Withholding by participating FFIs begins on payments made after 31 December 2013.61 Withholding on foreign passthru payments is ... PFFI. Participating Foreign Financial Institution as defined in the US FATCA regulations ... withholding prior to making a payment);. •. Interests not issued by ... Participating FFIs are not required to withhold on foreign passthru payments until the later of January 1, 2017 or six months after the date on which ... Withholding on FATCA applies to U.S. withholding agents making U.S. source payments to foreign payees, and also to foreign financial institution ...