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Final regulations under FATCA; taxpayer burden reduction

Final regulations under FATCA; taxpayer burden

The U.S. Treasury Department and IRS this afternoon released for publication in the Federal Register final regulations (T.D. 9890) as guidance on due diligence and reporting rules that apply with regard to persons making certain U.S. source payments to foreign persons.

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The final regulations [PDF 329 KB] (15 pages as published in the Federal Register) also provide guidance on certain aspects of reporting by foreign financial institutions on U.S. accounts.

Today’s release finalizes regulations that were proposed in December 2018 in an effort to reduce taxpayer burden. Read TaxNewsFlash

The purpose of this report is to provide text of the final regulations (that were published in the Federal Register on January 2, 2020).

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