Comply Exchange Logo

Proposed FATCA Regulations Released!

On December 13, 2018, Treasury released proposed regulations under chapter 4 (sections 1471 through 1474) commonly known as the Foreign Account Tax Compliance Act (FATCA), as well as sections 1441 and 1461.

The proposed changes include the following:

• eliminating withholding on payments of gross proceeds,

• deferring withholding on foreign passthru payments,

• eliminating withholding on certain insurance premiums,

• clarifying the definition of investment entity,

• guidance concerning certain due diligence requirements of withholding agents, and

• guidance on refunds and credits of amounts withheld.

Watch for our article this week on our blog page that will be going into detail on these regulations. If you would like a copy of the proposed regulations, click on the following link: https://lnkd.in/exaFiiU

Make sure to follow Comply Exchange for more industry updates and subscribe to the Comply Catch-up for a full industry round-up at the end of each month!

You might also enjoy

Join our mailing list!

About Us

Comply Exchange was built to give businesses and individuals alike the support that they need to comply with the complex and ever-evolving regulatory tax burdens imposed by the IRS and other global authorities with respect to information reporting and withholding.

Reach out to our experts today to schedule a demo and see how our software and services can help you streamline and automate your tax compliance needs.