FATCA final regulation is out

The IRS released final FATCA regulations on 17 January 2013. Analysis will be available soon.

FATCA start date is 2014

FATCA regulation applies for new customer w.e.f. 1 Jan 2014

Withholding starts in 2014

Withholding starts in 1 Jan 2014 on certain US income.

US person are under FATCA radar

FATCA applies to US person and entities having business or investment outside US.

Showing posts with label 1 July 2014. Show all posts
Showing posts with label 1 July 2014. Show all posts

13 July 2013

FATCA is further delayed by 6 months to 1 July 2014

IRS had announced yesterday that complex FATCA is further delayed by 6 months. Now new live date is 1st July 2014.

As per the draft released in April 2013, FATCA registration process was suppose to start in July 2013. But the understanding is the portal is not available to initiate the FATCA registration.

This will also give time to IRS and multiple countries to agree on IGA. This will help banks in respective countries a guidance about FATCA implementation.  

More details on FATCA delay will follow soon.

Read More: FATCA Reporting