QI account management system opens in April 2018 | KPMG | BE
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QI account management system opens in April 2018

QI account management system opens in April 2018

The IRS issued a release announcing that the qualifying intermediaries (QI) application and account management system will be open to accept QI certifications beginning early April 2018.

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QI account management system opens in April 2018

The IRS release explains that: 

  • The certification due date depends on which year the QI selected for its periodic review.
  • The certification due date for a QI that selected 2015 or 2016 for its periodic review and that has a certification period ending in 2017, or that obtained a waiver of its periodic review and that has a certification period ending in 2017, is 1 July 2018. For these reviews, the IRS will permit an extension to 1 September 2018 to provide the certification.
  • The certification due date for a QI that selected 2017 for its periodic review is 31 December 2018. The IRS will, however, permit an extension to 1 March 2019 for providing the certification.
  • All QI entities will receive an announcement on their message board that the QI account management system will open in early April 2018.

<p>© 2018 KPMG Tax and Legal Advisers, a Belgian Civil Cooperative Company with Limited Liability (burg. CVBA/SCRL civile) and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.</p> <p>KPMG International Cooperative (“KPMG International”) is a Swiss entity. &nbsp;Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.</p>

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