• Proposed FATCA Regulations: Some Significant Contacts Relief for Foreign Institutions, but Challenges Ahead
  • February 14, 2012 | Authors: Benjamin Berk; Cynthia D. Mann; Bridget M. Weiss
  • Law Firms: Arnold Porter LLP - Washington Office ; Arnold Porter LLP - New York Office ; Arnold Porter LLP - Washington Office
  • On February 8, 2012, the Internal Revenue Service (IRS) and the Treasury Department released the highly anticipated proposed regulations (Proposed Regulations) that, when published in final form, would implement the withholding and information reporting provisions of the Foreign Account Tax Compliance Act (FATCA), and will have far-reaching implications for companies and individuals conducting international financial transactions. FATCA is generally effective January 1, 2013. www.arnoldporter.com