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Memorandum on acceptability of an electronic Form W-8 - 9/11/2012


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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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