Deadline for QI / WP / WT applications for 2021 is November 26, 2021

QI / WP / WT applications for 2021 are due on November 26, 2021

QI / WP / WT applications for 2021 are due on November 26, 2021

The IRS today issued a release concerning the deadline of November 26, 2021, for applications for the 2021 year filed by a qualified intermediary (QI) (including a qualified derivatives dealer), a withholding foreign partnership (WP) and a withholding foreign trust (WT).

According to the IRS transmittal message (November 10, 2021), QI / WP / WT applicants that desire to have an agreement in effect in 2021 must submit their applications through the appropriate system—the Qualified Intermediary, Withholding Foreign Partnership, Withholding Foreign Trust Application & Account Management System (QAAMS)—no later than November 26, 2021, to allow sufficient time for processing by year-end.

The IRS also noted that applicants must have obtained a global intermediary identification number (GIIN) prior to submitting their applications, if a GIIN is needed.  

 

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