The Ultimate Guide to FATCA Foreign Passthru Payment Reporting

1474, commonly referred to as FATCA) requires withholding agents to withhold 30% of certain payments to a foreign financial institution (FFI) ... The purpose of FATCA is to reduce U.S. tax evasion by requiring certain “foreign financial institutions” to report information about U.S. holders of their non- ... The regulations reserve on the definition of a foreign passthru payment, but do provide that a participating FFI does not have to withhold ... ... payments made to certain foreign entities. ... Accordingly, Treasury and the IRS have not adopted the limited definition of a passthru payment proposed in such ... foreign passthru payment and gross proceeds withholding that minimizes burden. ... For purposes of this definition, the term FFI Agreement means where relevant, ... r). The term “Nonparticipating Financial Institution” means a nonparticipating. FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not. The new rules require 1) foreign financial institutions (FFI's) to provide the. Internal Revenue Service (IRS) with information on certain U.S. persons invested ... The 2013 final regulations reserve on the definition of foreign passthru payment ... By identifying a limited FFI on its FATCA registration ... Passthru payments means any withholdable payment and any "foreign passthru payment," which is currently not defined. The current proposed FATCA regulations ... The Foreign Account Tax Compliance Act (FATCA) is a law intended to curb the practice of using offshore accounts and financial assets to evade US taxes.