• FATCA Update for Fiduciaries
  • September 25, 2013
  • Law Firm: Withers Bergman LLP/Withers LLP - New Haven Office
  • The Foreign Account Tax Compliance (‘FATCA’) provisions of the Hiring Incentives to Restore Employment Act of 2010, codified in sections 1471 to 1474 and section 6038D of the Internal Revenue Code, will be of interest to any foreign entity investing in the US securities markets, including trusts. Absent compliance with FATCA, non-US investors will face 30% withholding on certain US source payments (including many US source payments that relate to a return of capital).