Mastering FATCA Pass-Through Payments A Practical Approach for 2019

January 1, 2019: Withholding on “passthru payments” will become effective the later of January 1, 2019 or the date of publication of the final regulations ... ... (FATCA) regime. The proposed regulations would eliminate withholding on payments of gross proceeds, defer withholding on foreign passthru ... The regulations provided that withholding on Passthru. Payments will not begin before the later of January 1, 2019, or the date the final reg-. Although FATCA was enacted in 2008, the IRS extended several FATCA related effective dates and in particular extended until January 1, 2019, the ... Non-U.S. financial institutions must either identify and report on certain U.S. account holders or be subject to a 30% withholding tax on ... 7. What are the withholding requirements under FATCA? In general, a withholding agent is required to withhold 30% on a withholdable payment made ... Remove withholding on payments of gross proceeds; · Defer withholding on foreign passthru payments; · Eliminate withholding on certain insurance ... In September 2015, the US IRS announced that withholding on foreign passthru payments would not apply until 1 January 2019 at the earliest. Pursuant to IRC Section 1471(a) and 1472, FATCA requires 30% withholding on certain U.S.-source payments to foreign financial institutions and ... ... FATCA withholding on gross proceeds until 2019. ... payment or other payment to the extent attributable to a withholdable payment. ... foreign passthru payment." ...