Archive for May, 2013

Luxembourg Currently Negotiating Model 1 IGA

On May 21, Luxembourg’s Finance Minister announced that Luxembourg is currently working towards establishing a Model 1 IGA with the United States.  There doesn’t appear to be a formal deadline set for completion, but given the nearing of certain FATCA deadlines, it will likely get finalized sooner rather than later. All posts and information contained […]

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New Forms – Draft W-8 and W-9

In the past week or so, the IRS has released new draft W-8 and W-9 forms that will eventually superseded the current versions being used.  These new forms are necessary to accommodate the additional information that withholding agents are required to possess in order to be in compliance. The recently updated draft forms include: Form […]

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Important Model 1 Sign-Ons

FATCA reporting clearly presents many issues for many funds (and likely many non-fund entities).  The so-called Model 1 Intergovenmental Agreement presents probably the cleanest route to FATCA compliance because there is not a direct reporting relationship between the financial institution and the IRS.  While that doesn’t become a “get out of FATCA free” card, many […]

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