Harness FATCA Passthru 2017 A Path to Efficient Reporting

- Withhold tax on foreign passthru payments made to recalcitrant accounts and nonparticipating ... reported in years 2016 and 2017, with ... Reporting on gross proceeds is to begin in. 2017. Passthru Payments. The proposed regulations would provide that withholding is not required ... 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 ... Participating FFIs (including Reporting Model 2 FFIs) are required to renew their FFI Agreements through the FATCA. just a starting point and only addressed some pieces of the basic FATCA structural framework. ... the IRS, and withhold on “passthru payments” (withholdable ... ... foreign passthru payments will begin;. (2) the use of limited ... 2017. A limited FFI or limited branch that becomes able to comply with ... The IRS has issued proposed new regulations that will further delay the imposition of withholding tax on foreign passthru payments. Under FATCA, payments to foreign financial ... Withholding with respect to foreign passthru payments will not be required until 2017 at the. ... FATCA, providing guidance on a wide range of issues under FATCA's ... foreign "passthru payments" until January 1, 2017. The proposed ... able payments and (beginning no earlier than 1 January 2017) foreign passthru payments paid to a client that is not FATCA-compliant. Foreign passthru payments ...