U.S.A.: Internal Revenue Service issues new Qualified Intermediary agreement

On 30 December 2016, the U.S. Internal Revenue Service (IRS) released Revenue Procedure 2017-15 implementing a revised version of the Qualified Intermediary (QI) withholding agreement (QI agreement).

The new QI agreement is applicable as from 1 January 2017 and replaces the previous version provided by Revenue Procedure 2014-39 which expired on 31 December 2016.

Foreign persons can enter into a QI agreement with the IRS to simplify their reporting and tax withholding responsibilities.

We continue to monitor the information available on the market and will provide more information as it becomes available.

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