Foreign Account Tax Compliance Act (FATCA)

• Flash News: Top ranking U.S. Treasury official provides insight on issues affecting the implementation of FATCA
  
  The Foreign Account Tax Compliance Act (FATCA) is expected to have a pervasive impact on many financial institutions organized in the U.S. and globally. Although FATCA became law in 2010, certain provisions are scheduled to be effective beginning in 2013, with some provisions scheduled to take effect in 2014 and 2015. It is anticipated that FATCA will present challenging implementation issues that must be addressed in a compressed time frame.
  January 2012

• Flash News: New Guidance on US Withholding on Dividend Equivalent Payments on Swaps over U.S. Equities
  
  On 19 January 2012, new guidance was released regarding swap contracts over U.S. equities that call for "dividend equivalent payments" to be subject to up to 30 percent gross US withholding. The proposed rules provide a new, more expansive, standard for defining the scope of swaps that are subject to US withholding. Although the expanded scope for swaps over US equities giving rise to gross US-source dividends is only proposed, the proposed regulations highlight key factors in assessing which total return derivatives over US equities may be subject to withholding in the future.
  January 2012

• Flash News: Ready, set, FATCA: How the new rules will affect insurers, and why early action is the best policy
  
  In March of 2010, the Foreign Account Tax Compliance Act (FATCA) provisions became law with the enactment of the Hiring Incentives to Restore Employment (HIRE) Act. FATCA imposes additional US information reporting requirements on financial institutions, as it requires financial institutions (FI) to employ enhanced due diligence procedures to identify US persons who have invested in either non-US financial accounts or non-US entities.
  August 2011

• PwC Global IRW Newsbriefs: Round two of FATCA guidance: IRS Notice 2011-34 addresses priority concerns, revises earlier guidance, and introduces new concepts
  
  On April 8, 2011, the Internal Revenue Services (IRS) issued Notice 2011-34 which provides supplemental guidance on the documentation, reporting and withholding requirements under the Foreign Account Tax Compliance Act (FATCA) of 2009 which was enacted in the Hiring Incentives to Restore Employment (HIRE) Act of 2010 (which added Chapter 4 of the Internal Revenue Code (Code or IRC) at sections 1471-1474).
  April 2011

• Press Article: The storm is brewing over accounts and investments held worldwide
  
  The US Foreign Account Tax Compliance Act (FATCA), enacted on 18 March 2010, will have a substantial impact on certain accounts held at Foreign Financial Institutions (FFIs). The expansive definition of FFIs will have specific significance for Banks, for the insurance industry and for investment vehicles.
  February 2011

• Press Release: A wave of new regulations: what changes or impacts for alternative investments in Europe and Luxembourg
  
  The Alternative Investments conference, organised by PwC Luxembourg on Tuesday 1 February, gathered around 200 professionals from the industry. PwC, the leader in Alternative Investment Fund, aimed to present the AIFM Directive and all the major regulatory and tax changes impacting the Alternative Investment Industry in Europe as well as the consequences on the Luxembourg market players.
  February 2011

• 5Minutes Executive Briefing
  
  The latest hot topics in the Asset Management industry.
  This newsletter is about FATCA compliance which turns out to be a major focus for the industry.
  January 2011

• Flash News: New US withholding and reporting legislation: impact on the insurance industry
  
  The US Foreign Account Tax Compliance Act (FATCA), enacted on 18 March 2010, will have a substantial impact on certain foreign accounts held at foreign financial institutions (FFIs). The expansive definition of FFIs will have specific significance for the insurance industry. This new legislation is focused on strengthening information reporting and withholding compliance for US persons that invest through or in non-US entities.
  September 2010

• PwC Global IRW Newsbriefs: Understanding the preliminary guidance and request for comments regarding the implementation of FATCA (IRS Notice 2010-60)
  
  On August 27, 2010, the Internal Revenue Service ("IRS") issued Notice 2010-60 (the "Notice") which provides the highly-anticipated initial insights into how the U.S. Treasury Department ("Treasury") and the IRS are approaching the implementation of certain sections of the Foreign Account Tax Compliance Act ("FATCA").
  September 2010

• Press Release: AIFM et FATCA : Impacts sur l’industrie européenne des fonds d’investissements alternatifs et leurs investisseurs
  
  PricewaterhouseCoopers (PwC) Luxembourg a organisé ce 2 juin un événement dédié aux récents développements résultant des réglementations FATCA et de la Directive AIFM et à leurs impacts potentiels sur l’industrie de la gestion d’actifs. Bénéficiant de la présence de spécialistes fiscaux américains de PwC New York, mais également des principaux professionnels de la place, la conférence a réuni plus de 200 participants.
  June 2010

• PwC Global IRW Newsbriefs: Understanding FATCA: What you need to know now about this sweeping legislation
  
  On March 18, 2010, the final version of the highly anticipated Foreign Account Tax Compliance Act of 2009 ("FATCA") became law as part of the Hiring Incentives to Restore Employment ("HIRE") Act. FATCA's impact on the information reporting and withholding regime is sweeping, as it creates a new chapter to the Internal Revenue Code ("Code") that is focused on strengthening information reporting and withholding compliance with respect to U.S. persons who invest through and/or in non-U.S.
  March 2010