Foreign Financial Institutions in FATCA Need to Check Registrations

The IRS is reminding foreign financial institutions to renew their Foreign Financial Institution (FFI) agreement if required. These FFIs have until Oct. 24, 2017 to complete their renewal. Those that don’t renew their agreements could be removed from the November FFI list and be subject to a 30 percent tax on certain U.S. source payments.

“We’ve worked with foreign financial institutions

FULL ARTICLE http://www.cpapracticeadvisor.com/news/12368882/foreign-financial-institutions-in-fatca-need-to-check-registrations

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