United States: How do the latest information reporting requirements impact your nonfinancial multinational company? (Part 1)

April 2014

Overview

Nonfinancial MNCs that were in compliance with existing tax reporting and withholding requirements are discovering they have many new responsibilities and requirements as a result of the modifications to the FATCA regulations.

These regulations not only impact payment flows; they also impact payee documentation requirements and the associated presumption rules when documentation is not provided. Moreover, nonfinancial MNCs are discovering that foreign financial institutions exist in their group despite FATCA providing many exceptions and special carve outs that limit which entities are considered to be financial institutions.

These regulations not only impact payment flows; they also impact payee documentation requirements and the associated presumption rules when documentation is not provided. Moreover, nonfinancial MNCs are discovering that foreign financial institutions exist in their group despite FATCA providing many exceptions and special carve outs that limit which entities are considered to be financial institutions.

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Frank Serravalli
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John Gibson
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Dominick Dell'Imperio
Partner
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Candace Ewell
Principal
Tel: +1 (202) 312 7694
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