Five Ways FATCA Impacts Your Business [White Paper]
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Failure to comply with the new reporting obligations under the Foreign Account Tax Compliance Act (FATCA) can result in a 30 percent withholding tax on certain payments to non-compliant foreign financial institutions (FFIs).
Companies that fail to deduct and remit FATCA withholding will be liable for the non-withheld amount—plus interest and penalties. Download this white paper for an overview of new FATCA requirements.
You will learn the five ways FATCA withholding requirements impact your business:
1. Your current withholding requirements change with FATCA
2. You must determine the classification of each of your foreign payees
3. Your foreign payees are likely to be more broadly subject to the 30 percent withholding tax
4. You need to Collect the Correct Form W-8 for each foreign payee
5. You need to implement the new Form W-9 (updated as part of FATCA)
The regulations have become more complex, but meeting them doesn’t have to be. Download the white paper and get actionable insights you can start using today.