FATCA & CRS: Don’t Forget to Deregister
If you sold, liquidated or otherwise terminated a Reporting Financial Institution (FI) prior to January 1 of this year, you may need to...
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Elizabeth A. McMorrow
Jul 21, 2017
FATCA & CRS: Caymans Extends Reporting Date to August 31
The Cayman Islands announced that the reporting deadline for FATCA and CRS has been extended to August 31, 2017. This will be the final...
Elizabeth A. McMorrow
Jul 5, 2017
CRS: Bahamas Changes from Narrow to Wider Approach
The Bahamas tax authority recently announced that it no longer plans to follow the narrow approach in CRS compliance. It will instead...
Elizabeth A. McMorrow
Jun 23, 2017
CRS & FATCA: Cayman Extends Registration Deadline
The Cayman Islands announced yesterday that it extended the deadline for Financial Institutions (FIs) to register in the Cayman Islands...
Elizabeth A. McMorrow
Jun 7, 2017
FATCA Portal Open for Mandatory FFI Agreement Renewal
The IRS announced the FATCA FFI Registration system has been updated to include the ability for FFIs to renew their agreement with the...
Elizabeth A. McMorrow
May 22, 2017
Cayman Portal Open for Registrations
The Cayman tax authority announced on Friday that the Cayman AEOI portal is now open for FATCA and CRS entity registrations. For...
Elizabeth A. McMorrow
Apr 19, 2017
Cayman FATCA & CRS Deadlines Matched Up
The Cayman Islands tax authority (TIA) issued an update for FATCA/CRS registration/notification and reporting. For assistance, please...
Elizabeth A. McMorrow
Apr 14, 2017
FATCA: Indian Financial Institutions Permitted to Block Accounts
India’s Central Board of Direct Taxes (CBDT) issued an update regarding the US-India FATCA IGA. India and the USA entered into a Model 1...
Elizabeth A. McMorrow
Apr 12, 2017
Mandatory Registration Renewal for FFI Agreement
All Foreign Financial Institutions (FFIs) that have entered into an FFI Agreement with the US Internal Revenue Service (IRS) must renew...
Elizabeth A. McMorrow
Apr 3, 2017
Singapore Released Its FATCA Reporting Nil Paper Form
Singapore released its FATCA reporting nil paper form today. The Inland Revenue Authority of Singapore (IRAS) requires nil reporting...
Elizabeth A. McMorrow
Mar 9, 2017
Cayman Islands CRS Notification & Reporting Deadline Extended
The Cayman Department for International Tax Cooperation (DITC) issued an industry advisory extending the dates for Common Reporting...
Elizabeth A. McMorrow
Feb 28, 2017
CRS: What Does Controlling Person Mean for the Unsuspecting Executive?
It may be startling for a headquarters executive or regional sales director to be asked to provide photocopies of every page in their...
Elizabeth A. McMorrow
Feb 17, 2017
Where FATCA and Biotech Compliance Coincide
In my practice, I represent clients in the financial industry (FATCA/CRS) and in the biotech industry (legal management of foreign...
Elizabeth A. McMorrow
Jan 12, 2017
CRS: New Cayman Criminal Sanctions
Recently released Cayman Islands Common Reporting Standard (CRS) Regulations added significant criminal enforcement sections which...
Elizabeth A. McMorrow
Dec 22, 2016
FATCA: Limited Conditional Status Terminates on January 1, 2017
To provide a bridge between the start of FATCA and the time necessary for jurisdictions to enter into Intergovernmental Agreements (IGAs)...
Elizabeth A. McMorrow
Oct 28, 2016
IRS Pushes Out Date to Use New W-8BEN-E
In April 2016, the IRS released a new Form W-8BEN-E. Ordinarily, the old 2014 Form W-8BEN-E would be permitted to be used for six months...
Elizabeth A. McMorrow
Oct 11, 2016
Double Up on Notifications Re:Taxation on Overseas Assets
Pursuant to local CRS and FATCA implementation, certain jurisdictions such as the United Kingdom require that Reporting Financial...
Elizabeth A. McMorrow
Oct 4, 2016
Sponsored Entity Registration Procrastination
The IRS requires that some sponsoring entities register their sponsored entities for their own Global Intermediary Identification Numbers...
Elizabeth A. McMorrow
Sep 13, 2016
Mandatory Use of 2016 Form W-8BEN-E Coming Down the Pike
In April 2016, the IRS released a new Form W-8BEN-E. The old 2014 Form W-8BEN-E is permitted to be used for six months subsequent to the...
Elizabeth A. McMorrow
Sep 1, 2016
India Prohibits FATCA Account Closures
India and the USA entered into a Model 1 IGA for implementation of FATCA on 31st August, 2015. As part of the IGA implementation, India’s...
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