SIFMA Requests Additional 6 months for New Entity Accounts

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The Securities Industry and Financial Markets Association (“SIFMA”) in a comment letter to the U.S. Treasury and IRS has requested “… [a]n alternative approach to postponing FATCA’s initial effective date would be to provide for transitional relief targeted only to new accounts opened for entities. Under this approach, the full implementation of FATCA would be postponed […]

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Final Version of Form W-8EXP Released

The IRS has released the final version of Form W-8EXP. This W-8 is used by foreign governments, international organizations, foreign central banks of issue, foreign tax-exempt organizations, foreign private foundations, and governments of U.S. possessions. Form W-8EXP, released in April, is actually dated April 2014. Form W-BEN-E, released in March, was dated February 2014.


HSBC White-list Request includes Expected FATCA Status in Certain Countries

HSBC has asked that additional jurisdictions be “white-listed” by the U.S. Treasury and IRS. In its letter to the U.S. Treasury and IRS, it includes tables indicating its expected registration status in certain countries. These lists are indicative of the expectations of a major financial institution. Table 1 (omitted) includes countries which have actually, or […]

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Estonia signs IGA

Estonia has signed a reciprocal IGA with the U.S. based on Model 1.

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The IRS has posted additional FATCA FAQs.  Topics include Responsible Officers and Qualified Intermediaries/Withholding Partnerships/Withholding Trusts.  Here is the link to the latest set of FAQs: Latest FAQs

India and Slovak Republic added to in-substance IGA List


As of April 11, India and the Slovak Republic were added to the U.S. Treasury list of countries treated as having reached agreements in substance and to have consented to being included on such list.

South Africa provides Reporting Specifications for FATCA

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SPECIFICATIONS FOR THE REPORTING OF INFORMATION UNDER FATCA, AEOI AND DOMESTIC LAW Pretoria 3 April 2014 - On 8 February 2013, the National Treasury and the South African Revenue Service (SARS) announced the start of negotiations with the US Department of the Treasury to enter into an inter-governmental agreement (IGA) with respect to the USA’s Foreign […]

FATCA FAQs added by IRS

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Several additional FATCA Frequently Asked Questions (FAQs) and Answers have been posted to the FATCA Website.  Here is the link to the latest set of FAQs: Latest FAQs. Notable FAQs on the IRS list (at least, in my view): Q8 – An EAG may be divided into subgroups which may consist of single FIs. Here […]

More in-substance IGAs


The U.S. Treasury has added more jurisdictions that have reached IGAs in substance and have consented to being included on the list. 02-Apr-14 03-Apr-14 Model 1 IGA Australia Australia Belgium Belgium Brazil Brazil British Virgin Islands British Virgin Islands Croatia Czech Republic Estonia Gibraltar Jamaica Jamaica Kosovo Kosovo Latvia Latvia Liechtenstein Liechtenstein Lithuania Lithuania New […]

Honduras signs IGA Model 1 with U.S.

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On March 31, Honduras signed IGA Model 1 with the U.S. The IGA is available here.

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