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