Mastering FATCA Pass-Through Payments A Comprehensive Guide to 2017 Regulations

After January 1, 2017, FATCA will also apply to payments that are not purely U.S. sourced (“foreign passthru payments”). In the future, the ... ... 2017. FATCA is intended to prevent U.S. taxpayers from ... payments” and on foreign “passthru” payments that such foreign entities receive. The proposed regulations defer withholdings on pass-through payments. A pass-through payment is any payment made by a foreign financial ... - Withhold tax on foreign passthru payments made to recalcitrant accounts and nonparticipating ... reported in years 2016 and 2017, with ... ▫ Should generally neither be subject to FATCA withholding on payments they receive, nor required to apply passthru ... 2017. Of course ... ending in 2017. If an institution fails to comply ... withholding on “Passthru” payments (income payments from an FFI to a foreign individual or entity. alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden. 2. Documentation of ... The participating FFI must file Form 8966 on magnetic media (i.e., the FATCA Report XML) with the IRS on or before March 31 of the year ... Under FATCA and the Proposed Regulations, any payment made under “an obligation” (as defined in the Proposed Regulations) outstanding on January ... effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden. 3 ...