Implementation of FATCA
Published on:
June 7, 2011
SIFMA provides comments to the U.S. Department of Treasury and the Internal Revenue Service (IRS) on the regulations that are being developed to implement the provisions of the Foreign Account Tax Compliance Act (FATCA) included in section 501 of the Hiring Incentives to Restore Employment Act (HIRE Act), Internal Revenue Notice 2011-34. SIFMA shares its observations and recommendations in response to Notice 2011‐34, to assist the Treasury and the IRS with crafting regulations that accomplish FATCA’s goals without unnecessarily disrupting the operations of the capital markets.