The IRS released Issue Number 2023-13 alerting Qualified Intermediaries (QI) (including Qualified Derivatives Dealers), Withholding Foreign Partnerships (WP) and Withholding Foreign Trusts (WT) of the application deadline for the 2023 year.
All applicants wishing to have an agreement in effect for 2023 must submit their applications through the Qualified Intermediary, Withholding Foreign Partnership, Withholding Foreign Trust Application & Account Management System (QAAMS) no later than October 27, 2023. If required for Chapter 4 purposes, a GIIN must have been obtained prior to application submission.
Applications submitted after October 27, 2023 will not be processed. If an applicant is unable to submit an application before the October deadline, then they will need to wait until January 1, 2024 to submit for the 2024 year.
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