IRS revamps FATCA registration system

The Internal Revenue Service has updated its online registration system for the Foreign Account Tax Compliance Act to allow foreign financial institutions to renew their agreement with the IRS.

FATCA was included as part of the HIRE Act of 2010, requiring foreign banks and other financial institutions such as hedge funds to report on the holdings of U.S. citizens

FULL ARTICLE https://www.accountingtoday.com/news/irs-revamps-fatca-registration-system

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