QI / WP / WT account management system | KPMG | US
Share with your friends

QI / WP / WT account management system opens in April 2018

QI / WP / WT account management system

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


Related content

The IRS release explains that: 

  • The certification due date depends on which year the QI/WP/WT selected for its periodic review.  
  • The certification due date for a QI/WP/WT 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/WP/WT 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/WP/WT entities will receive an announcement on their message board that the QI/WP/WT account management system will open in early April 2018.

© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal