The U.S. Treasury Department and IRS, in late December 2016, released final and temporary regulations under chapter 4 of the Internal Revenue Code and updates to the foreign financial institution (FFI) agreement under Rev. Proc. 2017-16.
Specific highlights and discussions of these modifications are provided in a report prepared by KPMG LLP. Additional updates that apply both to chapter 4 and chapter 3 (as featured in a prior report) are republished at the end of this report.
Read a January 2017 report [PDF 1.4 MB] prepared by KPMG LLP: Final and temporary regulations under chapter 4; FFI agreement updates
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