FATCA Imposes Burdens on NFFEs

by Lawrence A. Kogan* The Foreign Account Tax Compliance Act of 2010 (FATCA) and its regs impose certain information gathering, reporting and withholding requirements on nonfinancial foreign entities (NFEEs) operated by U.S. taxpayers overseas. In part, FATCA is intended to address difficulties that...

FATCA Imposes Burdens on NFFEs

by Lawrence A. Kogan* The Foreign Account Tax Compliance Act of 2010 (FATCA) and its regs impose certain information gathering, reporting and withholding requirements on nonfinancial foreign entities (NFEEs) operated by U.S. taxpayers overseas. In part, FATCA is intended to address difficulties that...

FATCA Regs Expand Deemed-Compliant FFIs

The final Foreign Account Tax Compliance Act (FATCA) regulations, issued on January 28, 2013, expand the categories of foreign financial institutions (FFIs) that are deemed to be in compliance with FATCA. In general, under FATCA, U.S. withholding agents are required to withhold tax on certain payments...