Unveiling FATCA Pass-Through Payment Obligations for 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 ... And, as noted above, proceeds of dispositions of any of these instruments that give rise to U.S. source payments—e.g., a termination payment on ... 2017 (see the Appendix for a FATCA timeline). • Position of UK ... apply FATCA withholding on passthru payments to others. Under the ... Withholding on Foreign Passthru Payments will begin no earlier than January 1, 2017. Under FATCA, participating foreign financial institutions (FFIs) must agree to withhold at the 30% rate on foreign passthrough payments made to ... Under FATCA, a passthru payment is defined as “any withholdable payment or other ... January 1, 2017,24 and discussed the existence of the ... Further Suspension of Potential “Foreign Passthru Payment” Withholding. FATCA provides that certain payments by an FFI to a non-compliant ... The FATCA regulations reserve on the definition of the term “foreign passthru payment.”7 In the meantime, a transitional rule provides that a ... A passthru payment that is a withholdable payment would be subject to FATCA ... payments made before January 1, 2017. Instead, participating FFIs would ... 1474, commonly referred to as FATCA) requires withholding agents to withhold 30% of certain payments to a foreign financial institution (FFI) ...