W8-BEN FormFATCA panic mode seems to be dialing up slightly with the imminent release of the GIIN system. The panic briefly let up when, on July 12, 2013 the IRS released a revision to the deadlines for FATCA compliance. Here are the top sites, white papers, and articles that will explain what you need to know. Be sure to check the IRS document for the most recent deadlines for compliance.

  1. Foreign Account Tax Compliance Act (FATCA) by the US Internal Revenue Service (IRS). This is the definitive resource.
  2. Foreign Account Tax Compliance Act (FATCA) Resource Center from the US Department of the Treasury. The Treasury offers more details on the IGAs and related agreements.
  3. Tax Update: FATCA Compliance Matters Affecting Multinationals by Thomson Hine, a law firm. This is a good glossary, although the dates are wrong.
  4. U.S. FATCA Update: Final Regulations, Intergovernmental Agreements and Their Impact on the Fiduciary and Asset Management Industries by Richard Cassell and Kristin Konschnik, of Withers LLP, London via Bloomberg BNA. This is a more detailed article on FATCA.
  5. Overview and Key Dates of FATCA from Alacra – and a few observations from the field.
  6. Taking control of FATCA: Building effective internal controls and processes to promote compliance and certification a whitepaper by PwC.
  7. The widespread reach of FATCA: How will it affect your business? Another whitepaper by PwC.
  8. Preparing for FATCA Compliance: The First Step is a short explanation of FATCA by the able lawyers at Latham & Watkins.
  9. HM Treasury and HMRC release details outlining the implementation of FATCA in the UK, a news brief by PwC on the UK IGA with the IRS.
  10. FATCA: Final Regulations is a detailed FATCA summary by, and for, lawyers from Sullivan & Cromwell.

 

Remember to check with your tax lawyer before doing anything else. We don’t interpret rules, we help you turn rules into systems.

Visit Alacra's Periodic Table of FATCA Acronyms