July 12, 2013
On July 12, 2013, the U.S. Department of the Treasury and the IRS announced a six-month extension to the start of the Foreign Account Tax Compliance Act (FATCA) withholding and account due diligence requirements (Notice 2013-43 [PDF]). The new effective date is July 1, 2014.
Of particular importance, W-8 forms set to expire on December 31, 2013, will now have a new expiration date of June 30, 2014.
A review of the final regulations is available at the IRS FATCA Home Page. Below are additional, informative resources:
• Press Release: Treasury Engaging with More than 80 Countries to Combat Offshore Tax Evasion and Improve Global Tax Compliance (July 12, 2013)
• IRS FATCA Information for Financial Institutions:
• IRS FATCA News and Information