WOCCU and CUNA statement supports regulations reducing burden under FATCA

On 19 February 2019, the World Council of Credit Unions (“WOCCU”) and the Credit Union National Association (“CUNA”) issued a statement expressing support for the provisions under proposed regulations (REG-132881-17) that reduce burden under the Foreign Account Tax Compliance Act (“FATCA”) (Link). The WOCCU, being the leading international trade association and development agency for credit unions and cooperative financial institutions, supports many aspects of the regulation and urges finalization to provide reduced regulatory burden for their member credit unions.

To provide more detailed information on the regulations reducing burden under FATCA, PwC in the U.S. released a Tax Insights on 7 January 2019 (Link).

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