• FATCA - Private Fund Executive Summary
  • May 2, 2012 | Authors: Kristin P. Hinson; Clay A. Littlefield; Matthew W. Mamak; Timothy P. Selby
  • Law Firms: Alston & Bird LLP - Charlotte Office ; Alston & Bird LLP - New York Office
  • The IRS recently issued proposed regulations under the Foreign Account Tax Compliance Act (FATCA) that provide additional FATCA guidance on due diligence, withholding and reporting obligations, carve-outs and exceptions to FATCA’s applicability, and a new timeline for implementation. This advisory highlights the most relevant aspects of these proposed rules for Alston & Bird’s private fund clients. For a more detailed discussion of the FATCA proposed regulations and their potential impact across various industry segments, please consult our March 15, 2012, International Tax Advisory, “Summary of Proposed FATCA Regulations,” available online at www.alston.com/summary-of-the-proposed-fatca-regulations.