IRS updates FAQ on FATCA

In July 2019, the U.S. Internal Revenue Service (“IRS”) updated certain Frequently Asked Questions (“FAQs”) on the Foreign Account Tax Compliance Act (“FATCA”) to support users in understanding the respective requirements:

  • FATCA – FAQs General updated 12 July 2019 (Link);
  • Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and Withholding Foreign Trust (WT) FAQs updated 15 July 2019 (Link);
  • IRS FFI List FAQs updated 19 July 2019 (Link);
  • FATCA – FAQs Registration System updated 24 July 2019 (Link);
  • Basic Questions and Answers on Form 8938 updated 29 July 2019 (Link); and,
  • Qualified Intermediary (QI), Withholding Foreign Partnership (WP), Withholding Foreign Trust (WT) System Application and Account Management System FAQs updated 30 July 2019 (Link).

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