Today the IRS released Notice 2016-08 announcing forthcoming amendments to the regulations under chapter 4 to: (1) modify the date for submitting preexisting account certifications required of certain foreign financial institutions (FFIs); (2) specify the period and date for submitting to the IRS the periodic certification of compliance for a registered deemed compliant FFI; and (3) modify the transitional information reporting rules for accounts of nonparticipating FFIs to eliminate the requirement to report on gross proceeds for the 2015 year.  The notice also announced forthcoming amendments under chapters 3 and 4 to specify the circumstances under which a withholding agent may rely on electronically furnished Forms W-8 and W-9 collected by intermediaries and flow-through entities.