Final FATCA Regulations: Implications for U.S. Taxpayers

Leveraging Benefits for Taxpayers Holding Assets in Offshore Financial Institutions or Other Vehicles

Recording of a 110-minute CPE webinar with Q&A


Conducted on Thursday, March 28, 2013

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will give tax advisors and corporate federal tax professionals a detailed review of the final IRS Foreign Account Tax Compliance Act (FATCA) regulations issued in January and how they affect preparation of Form 8938.

Description

Final FATCA regulations issued by the IRS on Jan. 17, 2013, keep the essential withholding requirements proposed for U.S. taxpayers with foreign accounts, but add a number of new (often pro-taxpayer) provisions with which tax professionals must become familiar.

For example, the regs extend the effective date for withholding on certain asset sales, the deadline for grandfathered obligations, and the compliance deadline for foreign financial institutions. They add new exclusions from foreign financial institutions and add an online registration process.

Going forward, filers of Form 8938 and their advisors must master the final regulations as they report on U.S. assets in foreign financial accounts and withhold tax on certain payments, lest they risk the substantial interest and penalties possible under FATCA.

Listen as our group of experienced tax advisors provides a detailed review of the final FATCA regulations and prepares you to navigate the favorable and restrictive aspects.

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Outline

  1. Background of FATCA and proposed regulations
  2. Grandfathering rules and key dates
  3. Security agreements
  4. Inter-governmental agreements
  5. Exceptions from FATCA
  6. Responsible officers
  7. FATCA registration portal

Benefits

The panel will explore these and other relevant issues:

  • Key FATCA dates going forward, including grandfathering rules.
  • Taxpayers exempt from FATCA or deemed compliant.
  • Elements of an appropriate FATCA compliance strategy, given the final regs.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Randall Andreozzi
Randall Andreozzi

Partner
Andreozzi Bluestein Fickess Muhlbauer Weber Brown

He specializes in complex tax controversy matters and corporate tax matters, and international/territorial tax issues,...  |  Read More

Susan Segar
Susan Segar

Partner
Burt Staples & Maner

She works with clients on tax advice for multi-nationals, IRS voluntary compliance programs, domestic and non-resident...  |  Read More

Kelli Wooten
Kelli Wooten

Of Counsel
Burt Staples & Maner

She specializes in advising financial institutions and multi-national corporations on matters involving domestic and...  |  Read More

Matthew D. Lee
Matthew D. Lee

Partner
Blank Rome

He has extensive client advisory experience on FBAR, undeclared foreign bank accounts and the IRS voluntary disclosure...  |  Read More

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