How does the recent FATCA guidance affect asset managers?

April 2014
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How does the recent FATCA guidance affect asset managers?

At a glance

Asset managers who have already begun their FATCA implementation activities should find these changes provide some welcomed relief and clarification.

Asset managers who have already begun their FATCA implementation activities should find these changes provide some welcomed relief and clarification. For many managers, however, who were waiting on the additional guidance to move forward, these represent the final significant pieces of guidance to be issued. If a manager has not started to prepare for FATCA already, now is the time to begin preparation to ‘go live’ with FATCA by July 1, 2014. Time is short until July 1, so managers should review their FATCA implementation plans and make sure that they will be ready by July 1.