United States - IRS Grants Transition Relief for FATCA but Not Delayed Effectiveness
- United States
- P. Carman
- Derivatives & Financial Instruments, 2014 (Volume 16), No 4
- 18 July 2014
A recently issued notice from the IRS provides transitional relief from certain due diligence and compliance provisions under FATCA. In spite of this relief, however, foreign financial institutions are still in the position of needing to move forward to put systems in place as quickly as possible.