Mastering FATCA Passthru Payments A Comprehensive Overview for International Businesses in 2019

Non-US financial institutions must either identify and report on certain US account holders or be subject to a 30% withholding tax on certain payments of US ... Pass-through payments under FATCA are certain payments that would originate from a debtor payment, which passes through a foreign financial institution ... Excerpt. February 22, 2019. Mr. John Sweeney Branch Chief, Branch ... foreign passthru payments. These provisions represent a significant ... ... passthru payment” described in section 1471(d)(7) of the Code not falling ... payment under a Finance Document required by FATCA. "FATCA Exempt Party ... 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 ... Defer the effective date for withholding on foreign passthru payments, a “passthru payment” having been statutorily defined in the Hire Act as ... The regulations reserve on the definition of a foreign passthru payment, but do provide that a participating FFI does not have to withhold on a foreign passthru ... ... pass-through entities. This ... payment, electronic filing and payment ... IRS Issues Proposed Regulations on Withholding Requirements Under FATCA. An FFI other than a PFFI, Reporting Model 2 FFI, or RDCFFI that is not required to file Form 8966 may still be required to report a payment ... withholding. ▫ Compliance date is January 1, 2019 for withholdable payments that are gross proceeds or “pass-thru” payments. ▫ Reporting Model 1 FFI had ...