Master FATCA Pass-Through Payments A Comprehensive Guide for 2019

... 2019; (ii) extends the date for beginning of withholding on foreign passthru payments to January 1, 2019 (at earliest); (iii) extends ... Although FATCA was enacted in 2008, the IRS extended several FATCA related effective dates and in particular extended until January 1, 2019, the ... ... payment and any foreign passthru payment. The ... 2019, or the date of publication in the Federal ... FATCA partner jurisdictions in implementing the information ... ... foreign passthru payments. These provisions represent a significant burden reduction for SIFMA member firms complying with FATCA. There are ... FATCA was the revenue-raising portion of the 2010 domestic jobs stimulus bill, the Hiring Incentives to Restore Employment (HIRE) Act, and was enacted as ... The Proposed Regulations would defer the withholding requirement on a Foreign Passthrough Payment made to nonparticipating FFIs or recalcitrant ... Further Suspension of Potential “Foreign Passthru Payment” Withholding. FATCA provides that certain payments by an FFI to a non-compliant ... First, it eliminates Foreign Account Tax Compliance Act (“FATCA”) withholding on gross proceeds. Second, it pauses withholding on pass-through ... The IRS believes that the implementation of withholding on pass-thru payments is integral to the success of FATCA. ... 2019. Also, similar ... alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden. 2. Documentation of ...