New FAQs published by the IRS for FATCA registration website - 23/09/2013
The IRS has published additional guidance for the recently opened FATCA registration website.
The IRS posted two separate FAQs:
- one for general FATCA registration guidance and
- the other for qualified intermediaries (“QIs”)
Impact for Luxembourg FFIs
On May 21, 2013, the Luxembourg Minister of Finance has announced the choice to enter into an IGA Model 1.
Based on the FAQ, it is mentioned that financial institutions that are treated as reporting financial institutions under a Model 1 IGA should register as registered deemed-compliant foreign financial institutions.
For additional details concerning these technical corrections, please find enclosed the alert prepared by our US colleagues.
If you have any queries regarding the above, please do not hesitate to contact us.
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