The Internal Revenue Service have recently confirmed that under FATCA in order to be issued with a Global Institution Identification Number (“GIIN”) before the 1 January 2015 registration must be completed via the online portal no later than 22 December 2014. This is important as any Foreign Financial Institution (“FFI”) resident in a Model 1 […]

On June 2, 2014, the U.S. Treasury and the Internal Revenue Service announced further developments as the July 1 implementation date of the Foreign Account Tax Compliance Act (FATCA) quickly approaches.  In a statement, Deputy Assistant Secretary for International Tax Affairs Robert Stack said that the high level of registrations so far showed “strong international […]