This site uses cookies to provide you with a more responsive and personalized service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

FATCA impact on funds industry

Any entity which makes a payment of US source income must consider whether it is subject to FATCA. FATCA may apply to both financial and non-financial operating companies.


Due to this breadth, FATCA impacts virtually all non-US entities, directly or indirectly, receiving most types of US source income, including gross proceeds from the sale or disposition if US property which can produce interest or dividends.


US entities, both financial and non-financial, that make US source payments will also be impacted as they may now be required to withhold a punitive 30% tax on payments made to incorrectly/insufficiently documented investors under FATCA.


This will require the US entities to maintain documentation on those clients and also track how those persons are classified under FATCA.

Contacts

  • Pascal Eber
    Partner - Operations Excellence & Infrastructure Operations
  • Pascal Rapallino
    Partner - Private Wealth Services Leader
  • Pascal Noël
    Partner - Tax - International Tax-GFSI
  • Basil Sommerfeld
    Partner - Operations & Human Capital Leader
  • Alain Verberken
    Directeur - Tax - International Tax-GFSI

Share

 

Stay connected:
Get connected
Share your comments
More on Deloitte Luxembourg
Learn about our site

Recently published