IRS Extends FATCA Compliance Date in Many Countries
On September 18, the IRS issued Notice 2015-66 which provides that Foreign Financial Institutions (FFIs) in countries with "Model 1" Intergovenmental Agreements (IGAs) will be treated as FATCA compliant, and not subject to FATCA withholding by the IRS, if those jurisdictions notify the IRS before September 30 of this year that they require more time to put their systems in...