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IRS reminder: QI/WP/WT certifications

IRS reminder: QI/WP/WT certifications

The IRS today issued a reminder with respect to qualifying intermediaries / withholding foreign partnerships / withholding foreign trusts (QI/WP/WT) certifications.


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As noted in the IRS transmittal message, all QI/WP/WT entities must select the periodic review year of their certification period before 1 September 2018.  This includes those entities selecting 2017 as their periodic review year.

If a QI/WP/WT entity is applying for a waiver of the periodic review when making its periodic certification, it must:

  • Select 2015 for its periodic review year
  • Complete Parts I, II, and III of the certification
  • Submit its waiver application before 1 September 2018

The IRS release notes that the entity will not be required to perform a periodic review if its waiver application is approved.

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