Foreign Account Tax Compliance Act Answer Book - Matthew D. Lee, Paperback

• Release Date   7/15/2019
• ISBN-13   9781402433467 | 978-1-4024-3346-7
• ISBN   1402433468 | 1-4024-3346-8
• Format   Paperback
• Author(s)   Matthew D. Lee
• Remain ever current and ensure that you have the most updated version of this publication by visiting PLI.edu Foreign Account Tax Compliance Act Answer Book provides a detailed analysis of FATCA and the requirements it imposes on foreign financial institutions (FFIs) to disclose annually information about accounts held by U.S. individuals, or foreign companies in which U.S. individuals hold a substantial ownership interest. Written and edited by Matthew D. Lee (Fox Rothschild LLP), this question-and-answer guide walks the reader through every aspect of the Foreign Account Tax Compliance Act (FATCA) requirements. The book explains FATCA terms and concepts, identifies which FFIs are covered by the Act (over 155,000) and which countries (over 100) have signed, or indicated their willingness to sign, bilateral tax treaties with the United States (called Intergovernmental Agreements), and describes the obligations placed upon FFIs under the Act. Additionally, Foreign Account Tax Compliance Act Answer Book provides guidance on how to create an acceptable compliance program and what is required to register as a foreign financial institution.