Mastering FATCA Pass-Through Implementation in 2017

The FATCA regulations currently reserve on the definition of the term “foreign passthru payment. ... 2017, or the date of publication in ... 2017), foreign pass-thru payments (not before January 1, 2017) and a payment of FDAP income that would be a withholdable payment if paid by a U.S. person. FATCA introduced a new reporting and tax withholding regime, effective July 1, 2014, that is directed at both foreign financial institutions ... The proposed regulations extend FATCA's “grandfathering” period, delay the effective date for withholding on foreign-source passthru payments, provide potential ... The withholding tax is a 30% tax on “withholdable payments.” F.A.T.C.A. also requires participating F.F.I.s (“P.F.F.I.s”) to withhold on “passthru payments” ... potentially foreign pass thru payments for calendar year. 2017. 2014. 2013. 2012. Page 15. PwC. (1) IGA: Intergovernmental Agreement. (2) ... ... foreign passthru payments will begin;. (2) the use of limited ... 2017. A limited FFI or limited branch that becomes able to comply with ... effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden ... Accounts from 1 January 2017. Page 122. 122. For all New Individual ... withhold on 'foreign passthru payments' which is included in the US. In 2010, the United States enacted FATCA to increase income tax reporting by US taxpayers on assets held in offshore accounts and through “Non-US Entities”.