US IRS and Treasury issue proposed and temporary regulations
US IRS and Treasury released proposed and temporary regulations (TD 9657 and TD 9658) providing further FATCA guidance and “conforming” the requirements in chapters 3 and 61 of the Internal Revenue Code with the requirements of FATCA. (25 Feb 2014)
OECD Common Reporting Standard: A global FATCA-like regime
The Organization for Economic Co-operation and Development (OECD) has released a model Competent Authority Agreement (CAA) and Common Reporting Standard (CRS) designed to create a global standard for the automatic exchange of financial account information. (18 Feb 2014)
UK Crown Dependencies issue draft FATCA guidance notes
On 31 January, 2014 Jersey, Guernsey and the Isle of Man (being the UK Crown Dependencies) jointly issued draft guidance notes on the implementation of their Intergovernmental Agreements (IGAs) with the US and the UK.
What you need to know about IRS Notice 2013-69
The Notice guides foreign financial institutions (FFIs) entering into FFI agreements (FFIAs) with the IRS. It also includes a draft FFIA which, while greatly anticipated, does not contain many surprises. (6 November 2013)
Impact of final FATCA regulations on the asset management industry
With final FATCA regulations now released, learn how they affect the industry and what firms need to focus on for the remainder of 2013.
Final FATCA regulations refine definitions and provide relief for insurance companies
In this alert, learn which four changes in the final regulations have the broadest implications for the insurance industry. (January 2013)
Does FATCA apply to your life insurance business?
Many financial institutions are asking if FATCA applies to them -- and if so, what are the compliance requirements? Get the answers to common FATCA questions.
FATCA and insurance: the saga continues
New guidance brings answers and questions for the insurance industry.