U.S. and Switzerland’s Competent Authority Arrangement Provides Individual Savings Plans For Dividend Benefits (June 4, 2021)

KPMG is reporting that the Announcement 2021-11 from the Internal Revenue Bulletin 2021-14 (June 7, 2021) includes a competent authority arrangement as entered into by the competent authorities of the United States and Switzerland. The article begins as follows:

The competent authority arrangement implements a provision of a 2009 Protocol to the United States-Switzerland income tax treaty that, in relevant part, added individual retirement savings plans (IRSPs) to the list of U.S. and Swiss pension or other retirement arrangements that may be eligible for beneficial treatment under paragraph 3 of Article 10 (Dividends).

See the full KPMG article by clicking: Individual savings plans eligible for dividend benefits under United States-Switzerland tax treaty (June 4, 2021).

See Part IV of IRS Bulletin 2021-23, Announcement 2021-11, click here.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s