United States - IRS announces an extension of deadline for QI/WP/WT periodic certifications
Reference
On 8 April 2021, the Internal Revenue Service (IRS) updated Question 10 of the Section “Certifications and Periodic Reviews” of the Qualified Intermediaries (QI), Withholding Foreign Partnerships (WP), Withholding Foreign Trusts (WT) Frequently Asked Questions to announce an automatic extension of deadline to submit QI/WP/WT periodic certifications covering a three full calendar year certification period ending on 31 December 2020, as detailed below:
- For QI/WP/WT that selected 2018 or 2019 as periodic review year or that requested a waiver of the periodic review requirement, the deadline is extended from 1 July 2021 to 1 December 2021;
- For QI/WP/WT that selected 2020 as periodic review year, the deadline is extended from 31 December 2021 to 1 March 2022.
We continue to monitor the situation and will provide further information as it becomes available.
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