IRS Grants Transition Relief for FATCA but Not Delayed Effectiveness

Journal
Author
Carman, P.D.
Country
United States
Published Date
Issue
Finance and Capital Markets (formerly Derivatives & Financial Instruments) 2014 (Volume 16), No. 4
FormatPDF
EUR
45
| USD
50 (VAT excl.)

A recently issued notice from the IRS provides transitional relief from certain due diligence and compliance provisions under FATCA. In spite of this relief, however, foreign financial institutions are still in the position of needing to move forward to put systems in place as quickly as possible.