IRS announces six-month delay in FATCA implementation

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The US Treasury Department and the Internal Revenue Service have announced a six-month extension to the start of the FATCA withholding and account due diligence requirements.

The delay to 1 July 2014 will provide foreign financial institutions (FFIs) with the time necessary to comply with FATCA and allow more time for the US Treasury Department to complete intergovernmental agreements (IGAs) with foreign countries.

In the coming days we will send you a more in-depth look at the IRS’s announcement, published as Notice 2013-43…

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