Revolutionize FATCA Passthru 2017 Strategies for Seamless Compliance

As mentioned above, the Regulations fail to address how "foreign passthru withholding" is to work in practice. ... 2017, being the earliest date ... ... FATCA's “Passthru Penalty”; (4) the IGAs; and. (5) the FBAR ... 9We note that Senator Paul introduced a bill to repeal FATCA in April 2017. 2017 (see the Appendix for a FATCA timeline). • Position of UK ... apply FATCA withholding on passthru payments to others. Under the ... - Withhold tax on foreign passthru payments made to recalcitrant accounts and nonparticipating ... reported in years 2016 and 2017, with ... This has now been deferred two years to 1 January 2017. 2. Grandfathering protection from passthru withholding extended. It was highly ... Under FATCA, participating foreign financial institutions (FFIs) must agree to withhold at the 30% rate on foreign passthrough payments made to ... Under FATCA, certain types of financial institutions are required to register with the IRS or face a very significant penalty of 30 per cent withholding tax. able payments and (beginning no earlier than 1 January 2017) foreign passthru payments paid to a client that is not FATCA-compliant. Foreign passthru payments ... In addition, the Treasury Department and the IRS intend to amend the regulations so that withholding on foreign passthru payments will not begin ... With respect to withholding on passthru payments, the Proposed Regulations indicate that withholding will occur no earlier than January 1, 2017, ...