FATCA – Regulations and other guidance

The table below shows regulations, rulings, notices, announcements, and other FATCA-related guidance or requirements.

For financial institutions:

This document finalizes (with limited revisions) certain proposed regulations. The final regulations provide compliance requirements and verification procedures for sponsoring entities of foreign financial institutions (FFIs) and certain non-financial foreign entities (NFFEs), trustees of certain trustee-documented trusts, registered deemed-compliant FFIs, and financial institutions that implement consolidated compliance programs (compliance FIs). These final regulations affect certain financial institutions and NFFEs.

Correcting amendments in:

Provides guidance to jurisdictions that are treated as if they have an IGA in effect and FFIs located in those jurisdictions.

Sets out the proposed Qualified Intermediary agreement revising and updating the current agreement, Revenue Procedure 2014-39 PDF

Timing of Submitting Preexisting Accounts and Periodic Certifications; Reporting of Accounts of Nonparticipating FFIs; Reliance on Electronically Furnished Forms W-8 and W-9

Guidance on Refunds and Credits Under Chapter 3, Chapter 4, and Related Withholding Provisions

Extension of FATCA Transitional Rules for Gross Proceeds, Foreign Passthru Payments, Limited Branches and Limited FFIs, and Sponsored Entities; Modification to Grandfathered Obligation Rule with Respect to Collateral; and Reporting of 2014 Information under a Model 1 IGA

Modified Applicability Dates of Certain Provisions Under Chapters 3 and 61

This notice announces the intention to amend certain provisions of the temporary chapter 4 regulations and temporary coordination regulations published on March 6, 2014 (T.D. 9657 and T.D. 9658, respectively). The amendments provide modified applicability dates for (1) the standards of knowledge applicable to a withholding certificate or documentary evidence to document certain payees and (2) the circumstances under which a withholding agent or payor may rely on documentary evidence provided by a payee instead of a withholding certificate to document the foreign status of the payee for chapters 3 and 61.

Updated Withholding Foreign Partnership or Withholding Foreign Trust (WP/WT) agreement

Updated Qualified Intermediary (QI) agreement

Updated FFI agreement (supersedes Revenue Procedure 2014-13)

Further guidance on the implementation of FATCA and related withholding provisions.

Update on jurisdictions treated as having an IGA in effect and on FATCA financial institution registration.

Final and temporary regulations

Withholding of tax on certain U.S. source income paid to foreign persons, information reporting and backup withholding on payments made to certain U.S. persons, and portfolio interest treatment.

Correcting amendments in:

Final and temporary regulations

Regulations relating to information reporting by foreign financial institutions and withholding on certain payments to foreign financial institutions and other foreign entities; final rule.

Correcting amendments in:

Notice of proposed rulemaking by cross-reference to temporary regulations and notice of public hearing.

Regulations relating to information reporting by foreign financial institutions and withholding on certain payments to foreign financial institutions and other foreign entities

Notice of proposed rulemaking by cross-reference to temporary regulations and notice of public hearing.

Withholding of tax on certain U.S. source income paid to foreign persons and revision of information reporting and backup withholding regulations.

Update on FATCA financial institutions registration.

Revised timeline and other guidance regarding the implementation of FATCA

Regulations relating to information reporting by foreign financial institutions and withholding on certain payments to foreign financial institutions and other foreign entities

Correcting amendments in:

Timelines for due diligence and other requirements under FATCA

Chapter 4 Implementation Notice, describes the timeline for the implementation of FATCA and discusses matters that will be addressed in regulations by Treasury and the IRS.

Supplemental notice to Notice 2010-60, Providing Further Guidance and Requesting Comments on Certain Priority Issues under chapter 4 of subtitle A of the Code

Notice and request for comments regarding implementation of information reporting and withholding under chapter 4 of the Code

For individual taxpayers:

Final regulations providing guidance regarding the requirements for certain domestic entities to report specified foreign financial assets to the Internal Revenue Service.

Final regulations and removal of temporary regulations relating to reporting of specified foreign financial assets.

Temporary regulations relating to reporting of specified foreign financial assets under IRC 6038D

Proposed regulations relating to reporting of specified foreign financial assets under IRC 6038D by certain domestic entities.

Relating to reporting of specified foreign financial assets under IRC 6038D

Information reporting by domestic entities under section 6038D with respect to specified foreign financial assets