• FATCA Timeline and Registration Delayed
  • July 18, 2013 | Authors: Christopher R. K. Cawley; Nicola Lemay; Richard Schaul-Yoder
  • Law Firm: Foley Hoag LLP - Boston Office
  • On July 12, 2013, the IRS issued new guidance regarding FATCA, the new U.S. tax regime designed to combat offshore tax evasion by U.S. taxpayers. In particular, the IRS (1) revised certain elements of the timeline for FATCA compliance; (2) announced that the opening of the FATCA Registration Portal has been delayed until at least August 19, 2013; and (3) provided information about foreign financial institutions (“FFIs”) organized in jurisdictions that have entered into negotiations regarding FATCA-related Intergovernmental Agreements (“IGAs”) with the United States.