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QI & FATCA News

On February 20, 2014, the IRS released preview versions of final and temporary regulations to coordinate FATCA with other tax provisions and provide additional guidance regarding withholding and reporting obligations of FFIs.

The QI Solutions' 2013 QI Reporting Pack is now available and contains a complete collection of forms needed to complete the QI reporting for income paid in 2013 together in one file.

The IRS has made corrections to the FFI Agreement (orginally relased in Revenue Procedure 2014-10).  The corrections relate to sections 3.03(B)(1), 4.02(C), 5.01, 6.07, 9.02(B), 9.02(D) and 10.03 of section 5 (FFI Agreement).

On January 10, 2014, the IT/US FATCA IGA was signed.