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PricewaterhouseCoopers Ltd global IRW newsbrief on the IRS release of draft FFI agreement
The Internal Revenue Service (IRS) on October 29, 2013 released Notice 2013-69 (the Notice) addressing foreign financial institution (FFI) agreements and related issues under the Foreign Account Tax Compliance Act (FATCA) and accompanying regulations. The Notice provides guidance to FFIs and branches of FFIs, including those treated as reporting financial institutions under an applicable Model 2 intergovernmental agreement (IGA). The Notice has been anticipated and provides guidance for stakeholders, but it also contains some surprising twists.
PricewaterhouseCoopers Ltd have provided the attached summary which our members are invited to read.
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