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 this page

The Road Ahead: Thoughts on the January 17, 2013, Released Final FATCA Regulations

Foreign Account Tax Compliance Act (FATCA)


DOWNLOAD  

On Thursday, January 17, 2013, Treasury and IRS released the final regulations for the Foreign Account Tax Compliance Act (“FATCA”).  Originally codified as part of the Hiring Incentives to Restore Employment Act of 2010, these final regulations culminate a series of interim guidance issued by the Treasury Department and IRS.

The attached document highlights several important takeaways from the final regulations, as well as Deloitte’s point of view on these rules, including the following topics:

  • Treasury’s risk-based approach limits institutions, obligations and accounts subject to FATCA;
  • Collaboration with foreign governments is a move towards a global information reporting framework
  • Registration and technical implementation questions are addressed;
  • Provisions on account documentation and due diligence requirements relieve some burden;
  • Rules on withholding provide clarity on certain issues but leave others ambiguous;
  • Reporting provisions were unchanged; and
  • These rules are now final.

Interested in additional details? Review an in-depth analysis of the final regulations prepared by the Deloitte Global FATCA PMO.

The full article is available for download. For more information please contact a FATCA Leader or click here.

Last updated

Related links

Share this page

Email this Send to LinkedIn Send to Facebook Tweet this More sharing options

Stay connected