The impact of FATCA withholding on real estate companies, funds and joint ventures

September 2012
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The impact of FATCA withholding on real estate companies, funds and joint ventures

At a glance

This Real Estate Tax Alert focuses on the classification of non-US entities under FATCA and what non-US entities should do to comply with this new regime which is in addition to and does not replace other US information reporting and withholding regimes.

This is the second client alert we are issuing regarding the implications for real estate companies, funds and joint ventures in connection with the proposed regulations related to the due diligence, withholding, reporting and certification obligations under Internal Revenue Code Sections 1471-1474 (commonly referred to as the Foreign Account Tax Compliance Act (FATCA).

While the first real estate tax alert concerning this topic focused on US entities and their obligations under FATCA, this alert focuses on the classification of non-US entities under FATCA and the steps that non-US entities should be taking with respect to complying with this new regime which is in addition to and does not replace other US information reporting and withholding regimes.