IRS Issues Final FATCA Regulations

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On January 17, 2013 the Internal Revenue Service issued long-awaited final regulations that implement the Foreign Account Tax Compliance Act (FATCA), the new reporting and withholding tax regime that applies to foreign entities that are directly or indirectly investing in the United States. The regulations contain some significant hoped-for modifications to the proposed regulations and compliance with the law should be greatly facilitated. The regulations exceed 400 pages.

We are preparing summaries for the application of the rules to various types of non-U.S. investors, and will have them available shortly.

In the meantime, you can read the Treasury’s news release and find the regulations online at http://www.treasury.gov/press-center/press-releases/Pages/tg1825.aspx.

 


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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