Draft Tax Forms, Including FATCA Forms & Instructions
Published on:
July 9, 2013
SIFMA provides comments to the Internal Revenue Service (IRS) on numerous IRS tax forms in the process of review and development.
SIFMA also submitted comments on June 21, 2013 on the final regulations implementing the provisions of the Foreign Account Tax Compliance Act (FATCA). In those comments, SIFMA outlined a number of outstanding concerns and made recommendations to the Treasury, including a request for further relief from the January 1, 2014 effective date.
The absence of final FATCA forms and instructions is a serious impediment to U.S. financial institutions (USFIs) and foreign financial institutions (FFIs) to being able to be ready by January 1, 2014 (since the IT systems will need to be programmed in conformity with the forms).