U.S.A.: IRS publishes updated FATCA – General FAQs
On 26 February 2018, the U.S. Internal Revenue Service (IRS) published an updated list of frequently asked questions (FAQs) related to FATCA on their website.
Amendments to FAQs, found under FATCA – FAQs General, pertain to section Qualified Intermediaries (QI)/ Withholding Foreign Partnership (WP)/ Withholding Foreign Trusts (WT). In subsection “certifications and periodic reviews” questions 4 to 8 were added. These new FAQs now clarify the possibility for a group of QIs or a group of WPs to apply to form a consolidated compliance group (CCG) and they outline the rules for certification for a CCG.
We continue to monitor the situation and will provide further information as it becomes available.
|This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A. its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice.|