Unlocking the Potential of FATCA Passthru Payments for Global Entrepreneurs in 2019

... pass-through entities. This ... payment, electronic filing and payment ... IRS Issues Proposed Regulations on Withholding Requirements Under FATCA. Non-U.S. financial institutions must either identify and report on certain U.S. account holders or be subject to a 30% withholding tax on ... 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 ... withholding. ▫ Compliance date is January 1, 2019 for withholdable payments that are gross proceeds or “pass-thru” payments. ▫ Reporting Model 1 FFI had ... Today the IRS released proposed FATCA regulations which clarify the definition of “Investment Entity,” and eliminate withholding on payments of ... The regulations provided that withholding on Passthru. Payments will not begin before the later of January 1, 2019, or the date the final reg-. Starting January 1, 2019, a ... Ultimately, a USFI will also be required to withhold on foreign pass-through payments made to an NPFFI. Foreign passthru payments made to recalcitrant account holders and nonparticipating FFIs by a participating FFI are also subject to withholding; ... Further Suspension of Potential “Foreign Passthru Payment” Withholding. FATCA provides that certain payments by an FFI to a non-compliant ... 6 A passthru payment is defined in the regulations to mean a withholdable payment and any foreign passthru payment. ... 2019, or the date of ...