FATCA on U.S. and non-U.S. mutual funds, open-ended funds - 29/04/2013
The impact of FATCA on U.S. and non-U.S. mutual funds and other regulated, open-ended funds
The Treasury Department and the Internal Revenue Service issued the final regulations on the set of statutory rules commonly referred to as Foreign Account Tax Compliance Act. The new information reporting and withholding regime signifies the U.S. government’s effort to encourage Foreign Financial Institutions, including non-U.S mutual funds and other regulated open-ended funds, to report U.S. taxpayers holding assets offshore.
In this respect, please find enclosed the news alert prepared by our US colleagues highlighting the FATCA impact for these U.S. and non-U.S. funds.
If you have any queries regarding the above, please do not hesitate to contact us.
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