On December 4, 2013, the US Department of the Treasury and the Internal Revenue Service released final and proposed regulations under section 871(m) of the Internal Revenue Code, concerning the imposition of US federal withholding tax on certain equity-linked instruments.
The rules are novel and complex and Canadian financial services companies should review their current processes, and procedures to ensure compliance with current effective rules. In addition, Canadian financial services companies should consider developing capabilities to interpret and execute the proposed regulations. This may require building new systems, designing new processes and capabilities in-house.
Please view our webinar, in which we discuss: