US Treasury and IRS delay Fatca by six months
Fatca withholding and account due diligence requirements extended until July 1, 2014
The US Department of the Treasury and the Internal Revenue Service (IRS) have announced a six-month extension to the start of the Foreign Account Tax Compliance Act (Fatca) withholding and account due diligence requirements.
The six-month extension to July 1, 2014 is to provide foreign financial institutions (FFIs) with the necessary time to comply with Fatca, the Treasury said. It is also to allow more time for foreign jurisdictions to complete intergovernmental agreements (IGAs) with the US.
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