IRS Proposes New QI Agreement for Foreign Banks to Comply with FATCA

The Internal Revenue Service has released new guidance on how foreign financial institutions can enter into a Qualified Intermediary agreement with the U.S. under the Foreign Account Tax Compliance Agreement, or FATCA.

Denise Hintzke

Notice 2016-42, released earlier this month, outlines the proposed QI agreement, which revises and updates the current agreement in Rev. Proc. 2014-39, released



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