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Results: 1-8 of 8

U.S. government issues FATCA proposed guidance & approach to automatic exchange of FATCA information

  • Akerman Senterfitt
  • -
  • France, Germany, Italy, Spain, United Kingdom, USA
  • -
  • February 9 2012

On February 8, 2012, the U.S. Department of the Treasury ("Treasury") and the Internal Revenue Service ("IRS") issued the long-awaited Proposed Regulations with respect to the Foreign Account Tax Compliance Act ("FATCA"

First bilateral agreement to implement FATCA signed by U.S. & United Kingdom

  • Akerman Senterfitt
  • -
  • United Kingdom, USA
  • -
  • September 19 2012

On September 14, 2012, the Treasury Department ("Treasury") announced that the United States has signed its first bilateral agreement with the United Kingdom regarding the implementation of the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act (FATCA

IRS announcement extends FATCA timelines

  • Akerman Senterfitt
  • -
  • USA
  • -
  • November 5 2012

On October 24, 2012, the Internal Revenue Service ("IRS") and the Department of Treasury ("Treasury") issued an announcement that extends certain timelines for the implementation of Foreign Account Tax Compliance Act (FATCA

FATCA Model II Agreement released

  • Akerman Senterfitt
  • -
  • USA
  • -
  • December 6 2012

The U.S. Department of Treasury ("Treasury") recently released its second model agreement (the "Model II Agreement") for countries to implement the Foreign Account Tax Compliance Act ("FATCA"

2011 foreign financial account reporting requirements

  • Akerman Senterfitt
  • -
  • USA
  • -
  • June 6 2012

U.S. citizens or residents who owned, directly or indirectly through an entity, or who had power of attorneysignature authority over one or more foreign financials account with an aggregate value exceeding $10,000 at ANY point in time during 2011 may be required to report such foreign financial accounts

IRS issues draft withholding forms conforming to FATCA

  • Akerman Senterfitt
  • -
  • USA
  • -
  • August 16 2012

The Foreign Account Tax Compliance Act (FATCA), passed as part of the Hiring Incentives to Restore Employment (HIRE) Act enacted in March 2010, added a requirement which generally provides that a foreign financial institution ("FFI") will need to be registered with the Internal Revenue Service ("IRS") in order to avoid a 30 withholding tax on certain payments (generally U.S. source passive income and gross proceeds from the sale of U.S. securities) starting in 2013

New FATCA alternative for foreign institutions to report directly to Internal Revenue Service

  • Akerman Senterfitt
  • -
  • USA
  • -
  • June 22 2012

On June 21, 2012, Treasury announced a new method for foreign financial institutions to comply with Foreign Account Tax Compliance Act ("FATCA") reporting

United States signs bilateral agreements to implement FATCA with Denmark and Mexico

  • Akerman Senterfitt
  • -
  • Denmark, Mexico, USA
  • -
  • December 6 2012

The United States has entered into its second and third bilateral agreements regarding the implementation of FATCA with Denmark and Mexico, respectively

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