KPMG reports that the U.S. Treasury Department and IRS has released for publication in the Federal Register final regulations (T.D. 9890) as guidance on due diligence and reporting rules that apply with regard to persons making certain U.S. source payments to foreign persons.
KPMG also notes that the final regulations [PDF 384 KB] (61 pages) also provide guidance on certain aspects of reporting by foreign financial institutions on U.S. accounts.
See full regs by clicking KPMG: Final Regs Under FATCA; Taxpayer Burden Reduction.
See KPMG announcement by clicking here.
See also KPMG initial impressions by clicking here (Dec. 30, 2019).
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..
