• Treasury Announces Delayed Implementation of FATCA Withholding and Reporting Requirements
  • August 5, 2011 | Authors: L. Wayne Pressgrove; Matthew R. Servies; John K. Sweet; John C. Taylor
  • Law Firms: King & Spalding LLP - Atlanta Office ; King & Spalding LLP - New York Office ; King & Spalding LLP - London Office
  • In response to widespread concern about the feasibility of timely compliance, the Treasury Department released Notice 2011-53 on July 14, which gives foreign financial institutions (FFIs) and U.S. withholding agents temporary relief from the fast approaching January 1, 2013 deadline for implementing the withholding and reporting requirements enacted in the Foreign Account Tax Compliance Act (FATCA).