On 17 January 2013, the US Treasury Department published the final regulations implementing FATCA. Reed Carey summarises the important changes in the final regulations and looks ahead at the expected developments.
On 17 January 2013 the US Treasury Department released the final regulations implementing the Foreign Account Tax Compliance Act (FATCA) (TD 9610). The final FATCA regulations and the explanatory preamble to the regulations released by the Treasury Department are over 500 pages long and are quite complex; this article provides only a summary of highlights of the new regulations.
Generally the final regulations have adopted the provisions of the proposed regulations that were released in February 2012. However there were a number of important changes which may narrow the focus of the FATCA rules.
The FATCA regulations will be of particular...
