On 16 March, the IRS issued a message as a reminder to qualified intermediaries (QI), withholding foreign partnerships (WP) and withholding foreign trusts (WT) of the requirement to renew their QI agreements (Rev. Proc. 2014-39) or WP / WT agreements (Rev. Proc. 2014-47) through the FATCA registration website by 17 April 2015, so as to continue their QI, WP or WT status.
Failure to renew an agreement could jeopardize qualified intermediary, withholding foreign partnership or withholding foreign trust status.
Information about the FATCA registration process is available on the IRS FATCA website.
Please note that this information relates only to QIs, WPs, and WTs that are also FFIs. For foreign entities that are NFFEs, the paper process is still required.
For further information, please do not hesitate to contact us.
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