The United States tax authorities take an important step towards FATCA implementation

22.08.13 News von den Mitgliedern

The United States tax authorities (Internal Revenue Service – IRS) opened a registration portal for the purpose of the Foreign Account Tax Compliance Act (FATCA) on 19 August, after it was delayed from mid-July. At the same time, the deadlines applicable to companies in the financial services industry were extended. The website will be used by financial institutions across the world to register and submit information with respect to their status within FATCA to the IRS. To achieve FATCA compliance, financial institutions in Romania which have reporting or withholding obligations under FATCA (banks, insurance companies, investment funds, brokers etc.) need to register on the website and assign responsibilities. For more details here.