On 28 March 2014, Luxembourg signed a Model 1 IGA with the U.S. Treasury (the “Luxembourg IGA”).
The Council of Government adopted the bill n°6798 on 6 March 2015 and it was officially submitted to the Luxembourg Parliament on 27 March 2015 exactly one year after the signature of the Luxembourg IGA (the “FATCA bill of law”).
Article 2 (4) of the FATCA bill of law provides that the reporting from the Luxembourg Financial Institutions to the Luxembourg Tax Authorities, related to a given year, is due on 30 June of the following year at the latest.
Whereas, the FATCA bill of law has been voted by the Parliament, the publication in the Memorial and thus the entry into force of the FATCA law is not yet effective.
In May a first exceptional extension of the deadline for the FATCA reporting with respect to Financial Accounts as at 31 December 2014 to 31 July 2015 (instead of 30 June) was announced by the Luxembourg Tax Authorities. Please see our FATCA e-alert 2015-10 for more information.
Since today, the official website of the Luxembourg Tax Authorities mentions that the deadline for such reporting is 31 August 2015 thereby implicitly confirming that a further exceptional extension is granted until end of August.
For further information, please do not hesitate to contact us.
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