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Beyond GIIN: The Current State of FATCA and What Foreign Financial Institutions Should Be Doing to Comply  


Author:  Alan I. Appel.; Michael Hirschfeld.


Source: Volume 31, Number 01, Fall 2017 , pp.39-43(5)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

The authors discuss how the Foreign Account Tax Compliance Act (FATCA) has matured over the past several years, what banks’ current responsibilities are under the law, whether the IRS is still offering leniency or grace periods for banks to “catch up,” and what foreign banks should expect regarding the law going forward.

Keywords: FATCA, FFI, compliance, foreign banks, certification, data exchange, IDES

Affiliations:  1: New York Law School; 2: Andersen Tax.

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