IRS to Issue FATCA Guidance In Time for Registration Portal Launch
Foreign financial institutions have until October 25th to register on the FATCA Registration Portal and get on the white-list of foreign financial institutions to who payments may be made without withholding. Unfortunately many details regarding compliance remain undefined due to a lack of finalized versions of the FFI agreement & official forms for registration.
In response to these concerns, the IRS announced on May 2 that they would be released updated guidance providing all necessary details that foreign financial institutions will need in order to register by the time the portal opens in July.
See Jamie Arora, "Guidance Coming in Time for FATCA Registration Portal." Tax Notes Today (May 2, 2013).
Posted by Conan Yuzna, Associate Editor, Wealth Strategies Journal
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