The Foreign Account Tax Compliance Act Examined

West Legalworks Webinar

12/06/2011 01:00 p.m. - 02:00 p.m. EST

Federal Tax and Capital Markets

Thomas A. Humphreys and Remmelt A. Reigersman

Thomas A. Humphreys and Remmelt A. Reigersman

Webinar

Christie Adams
cadams@mofo.com
(212) 336-4024

By now many have heard of the U.S. Foreign Account Tax Compliance Act (FATCA). In late March 2010, the FATCA provisions were enacted as part of the Hiring Incentives to Restore Employment Act. These new provisions, which started to apply to some transactions on September 14, 2010, and which will otherwise be phased in between now and January 1, 2015 could dramatically alter the way U.S. corporations raise funds abroad, the way non-U.S. financial institutions are forced to comply with U.S. tax law, as well as the way many foreign investors invest in U.S. securities.

The panel will discuss:

  • The new FATCA 30% tax on "withholdable payments" such as interest, dividends, and securities sales proceeds made to non-U.S. banks and brokers unless they agree to information report on their U.S. account holders beginning January 1, 2014.
  • The repeal of the U.S. "bearer bond" exception for obligations targeted to non-U.S. persons, effective for obligations issued after March 18, 2012.
  • The new U.S. withholding tax on "dividend equivalent" payments made on certain cross border swaps and other payments which took effect September 14, 2010.

Speakers:

Please contact Christie Adams at cadams@mofo.com for a client discount code.

West Legalworks will provide CLE credit.

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