The U.S. Treasury Department and IRS this afternoon released for publication in the Federal Register final regulations (T.D. 9852) concerning chapter 4 regulations relating to verification and certification requirements for certain entities and reporting by foreign financial institutions (FFIs).
The final regulations [PDF 267 KB] (59 pages) provide compliance requirements and verification procedures for sponsoring entities of FFIs and certain nonfinancial foreign entities (NFFEs), trustees of certain trustee-documented trusts, registered deemed-compliant FFIs, and financial institutions that implement consolidated compliance programs (compliance FIs). These final regulations affect certain financial institutions and NFFEs.
The preamble to the final regulations states:
. . . the proposed regulations relating to verification requirements for certain entities under chapter 4 are adopted (with limited modifications) by this Treasury decision.
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