Simplifying FATCA Pass-Through Payments A Practical Guide for 2017

With respect to withholding on passthru payments, the Proposed Regulations indicate that withholding will occur no earlier than January 1, 2017, ... Background · Removing FATCA withholding on payments of gross proceeds from the regulations · Deferring withholding on foreign pass-through ... ... (FATCA) regime. The proposed regulations would eliminate withholding on payments of gross proceeds, defer withholding on foreign passthru ... final regulations are published defining the term foreign passthru payment. ... GIINs until January 1, 2017. For payments made to a ... The proposed regulations defer withholdings on pass-through payments. A pass-through payment is any payment made by a foreign financial ... FATCA withholding generally will be required on payments made to FFIs ... passthru payments made after January 1, 2017. Additionally ... alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden. 3. Documentation of ... Withholding on Foreign Passthru Payments will begin no earlier than January 1, 2017. Annual FATCA reporting will be done on new IRS Form 8966 (FATCA Report), which the Preamble announces that the IRS will release in the near ... The FATCA regulations reserve on the definition of the term “foreign passthru payment.”7 In the meantime, a transitional rule provides that a ...