Unlocking the FATCA Pass-Through Payment Conundrum A Guide to Compliance in 2019

Under FATCA, a passthru payment is defined as “any withholdable payment or other ... 2019, or the date of publication in the Federal. Deduct and withhold a 30% tax on any “passthru payment” to recalcitrant account holders or other FFIs that are not PFFIs, deemed compliant ... U.S. withholding tax will apply to foreign passthru payment to a recalcitrant account holder or a nonparticipating FFI that is made after the ... FATCA requires Foreign Financial Institutions (FFIs) to report to the US Internal Revenue Service (IRS), information on assets of US$50,000 or more held by US ... 1. EXTENSION OF DATES FOR WHEN WITHHOLDING BEGINS FOR PAYMENTS OF GROSS PROCEEDS AND PASSTHRU PAYMENTS · 2. EXTENSION OF LIMITED BRANCH AND ... Withholding on foreign passthru payments serves important purposes. ... Despite being attributable to the U.S. source payment, the payment made to ... Elimination of foreign passthru payment withholding · The Treasury and IRS efforts in promoting FATCA have achieved a wide global coverage of IGAs, including ... The Proposed Regulations would defer the withholding requirement on a Foreign Passthrough Payment made to nonparticipating FFIs or recalcitrant ... ... passthru payments (until 2 years after the definition of such payments appears in final regulations), (3) elimination of withholding on non ... FATCA subjects to withholding certain payments made by FFIs to nonparticipating FFIs and recalcitrant account holders (Foreign Passthrough ...