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According to remarks by IRS Commissioner Douglas H. Shulman, draft regulations concerning the implementation of the FATCA will not be released until 2012. IRS Notice 2011-53, published in August 2011, stated that draft FATCA regulations would be published by the end of 2011.

Although no specific release date was indicated, Commissioner Shulman did state that the draft FATCA regulations would be released "soon after the new year." The apparent reason for the delay was to address industry concerns relating to potential conflict between FATCA and foreign laws as well as the difficulties regarding passthru payments (e.g., ' payments attributable to' withholdable payments).

Commissioner Shulman's remarks were made in Washington, DC, on December 15, 2011, at an address before the 24th Annual Institute on Current Issues in International Taxation held by the IRS and George Washington University. Full text of Commissioner Shulman's comments can be found on the IRS web site.