Haydon and Byrnes’ Analysis of FATCA Updates & GIIN List of March 2015
Posted by William Byrnes on March 20, 2015
GIIN list, IDES Update, 8938 Form Instruction Updates …. read on Wolters Kluwer.
GIIN Lists Analysis: June 2014 through March 2015
In the words of my English colleague Haydon Perryman, March was a “bit of a damp squib”. Financial institution FATCA registrations have slowed to a trickle with only 2,479 additional ones seeking a GIIN, bringing the ultimate total to 156,276.
Of this total, … read on Wolters Kluwer
Form 8938 (Reporting of Specified Foreign Financial Assets) Instructions Updated
In the Final Regulations effective 12 December 2014, Form 8938 Reporting of Specified Foreign Financial Assets, the IRS addressed such issues as dual residents, valuation challenges, foreign currency, virtual currency (left for another time), retirement accounts and insurance policies. The Final Regulations can be found on the FATCA – Regulations and Other Guidance page in the For Individual Taxpayers section. However, as of 10 March 2015, the IRS updated December’s changes to the Form 8938 reporting requirements, as well as including additional information not in the December instructions. A summary of important points follows. Of this total, … read on Wolters Kluwer
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