Memorandum on acceptability of an electronic Form W-8 - 9/11/2012 |
Memorandum on acceptability of an electronic Form W-8
The Chief Counsel of the US Internal Revenue Service (IRS) has issued a memorandum mentioning that under certain circumstances a PDF or fax of a Form W-8 is acceptable under the existing Chapter 3 regulations (Treas. Reg. § 1.1441-1(e)(4)(iv)). This conclusion may also be extended to FATCA, which explicitly allows a withholding agent to accept a facsimile of Forms W-8 subject to certain requirements (Prop. Treas. Reg. § 1.1471-3(c)(6)(iv)).
For more details, please find here attached the alert issued by our US colleagues in relation to the Memorandum.
IRS announcement 2012-42: timelines for due diligence and other requirements under FATCA
On October 24, 2012, the IRS released Announcement 2012-42 delaying certain FATCA requirements. Please find here attached the updated alert issued by our US colleagues in relation to the Announcement 2012-42.
If you have any queries regarding the above, please do not hesitate to contact us.
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Operational tax news - FATCA update
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