The Ultimate Guide to FATCA Passthru Payment Withholding Compliance

The elimination of FATCA withholding on gross proceeds and non-cash insurance premiums that are described above also apply to payments made to ... implementing FATCA withholding on withholdable payments ... foreign passthru payment withholding and that could be more efficiently implemented by. Participating FFIs are not required to withhold on foreign passthru payments until the later of January 1, 2017 or six months after the date on which ... Under FATCA, payments of US source income to FFIs are subject to a 30% withholding tax unless the FFI is a participating FFI or otherwise exempt from ... Today the IRS released proposed FATCA regulations which clarify the definition of “Investment Entity,” and eliminate withholding on payments of ... The proposed regulations provide that withholding will not be required with respect to foreign source passthru payments paid to nonparticipating FFIs and ... This document contains proposed regulations eliminating withholding on payments of gross proceeds, deferring withholding on foreign passthru payments. with FATCA's reporting, withholding, and account closure requirements. ... foreign pass thru payments until January 1, 2017, two years later than in. ... payments (known as “withholdable payments”),. FATCA will ultimately also impose a withholding tax on “foreign passthru payments”, which are ... 8488, March 8, 2019, the IRS scheduled an April 10 public hearing on the following proposed regulations eliminating withholding on payments of ...