IRS FATCA Certification Deadline Is December 15, 2018
The IRS implemented its online FATCA certification process and sent out messages to registered financial institutions this week. Check...
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Elizabeth A. McMorrow
Jul 11, 2018
FATCA: Sub-Certifications as Part of FATCA Compliance
In anticipation of the IRS implementing its online FATCA certification process, now is the time to consider internal FATCA...
Elizabeth A. McMorrow
Jul 9, 2018
FATCA & CRS: Bahamas Now Open for Registration & Reporting
The Bahamas announced that its AEOI Portal is now open for CRS and FATCA registration and reporting. The key dates are: Deadline for...
Elizabeth A. McMorrow
Jun 12, 2018
FATCA: USFIs & Foreign Grantor / Non-Grantor Trusts' Mandatory IRS Certs
The first round of IRS compliance certifications begins this summer. The current deadline is likely October 2018: 90 days after the IRS...
Elizabeth A. McMorrow
May 31, 2018
FATCA: Who Needs to File a Mandatory Certification with the IRS?
The first round of IRS compliance certifications begins this summer. The certification process was supposed to have started last summer...
Elizabeth A. McMorrow
May 31, 2018
FATCA & CRS: Cayman Islands New Deadline: July 31
The Cayman Islands changed its deadline for CRS and FATCA reporting: Original deadline May 31 Portal closed June 1 - June 14 Portal...
Elizabeth A. McMorrow
Apr 17, 2018
FATCA: Head’s Up 3301 Registered Singapore FIs
Singapore released its FATCA reporting nil paper form yesterday. The Inland Revenue Authority of Singapore (IRAS) requires nil reporting...
Elizabeth A. McMorrow
Mar 8, 2018
CRS & FATCA Record-Keeping Clock
It is clear that you must retain records under FATCA and CRS but for how long and when does the clock start ticking? Taking the most...
Elizabeth A. McMorrow
Feb 1, 2018
FATCA: Model 1 IGA Benefits without Any of the Reporting
There are a number of jurisdictions around the world whose Foreign Financial Institutions (FFIs) are not required to undertake FATCA...
Elizabeth A. McMorrow
Dec 28, 2017
What Is a Foreign Grantor Trust?
A trust is established in a U.S. jurisdiction such as South Dakota and a South Dakota trustee is appointed. How could this trust be...
Elizabeth A. McMorrow
Nov 24, 2017
CRS & FATCA: Singapore Sub-Fund Deregistration & Service Provider Limitations
The Inland Revenue Authority of Singapore (IRAS) issued a reminder to financial institutions that an entity that is or becomes a...
Elizabeth A. McMorrow
Nov 17, 2017
FATCA: Just Announced IRS Compliance Campaign
This week the IRS announced several IRS Large Business and International division tax compliance campaigns. Two of these campaigns...
Elizabeth A. McMorrow
Nov 8, 2017
FATCA: Responsible Officer Basics
FATCA vocabulary has become second nature to those of us actively working on FATCA-related issues. However, clients and newcomers to the...
Elizabeth A. McMorrow
Oct 29, 2017
New Training
Please see my new training programs page on my site. The programs cut across my specialties in: Managing legal issues in foreign...
Elizabeth A. McMorrow
Sep 8, 2017
FATCA: Foreign Grantor Trust Classification Strategy
In the FATCA world, some trusts are Foreign Financial Institutions (FFIs) and some are Non-Financial Foreign Entities (NFFEs). For those...
Elizabeth A. McMorrow
Aug 31, 2017
FATCA & CRS: Cayman Portal Closing September 13, 2017
The Cayman Islands issued a reminder to Financial Institutions that the deadline for the submission of US FATCA and CRS reports and CRS...
Elizabeth A. McMorrow
Aug 17, 2017
FATCA & CRS: Perfect Reporting Process But Still Non-Compliant
Reporting is almost over and you can take a breath. You followed FATCA, IGA, CDOT and CRS requirements in your reporting and due...
Elizabeth A. McMorrow
Aug 1, 2017
FATCA & CRS: Cayman Allows Post Deadline Registration / Notification / Variation
The Cayman Islands announced yesterday that its AEOI portal will continue to accept Financial Institution (FI) registrations and...
Elizabeth A. McMorrow
Aug 1, 2017
FATCA: The IRS Extends FFI Agreement Registration Renewal Deadline
A Foreign Financial Institution (FFI) that seeks to renew its FFI agreement must do so prior to October 24, 2017. The deadline had...
Elizabeth A. McMorrow
Jul 28, 2017
FATCA: Mauritius Reporting Deadline Extended
The Mauritius Revenue Authority (MRA) announced that it has decided to extend the due date for the transmission of FATCA information to...
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