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Treasury helps foreign financial institutions prepare for FATCA

A notice outlines upcoming FATCA provisions as well as a statement of compliance

Get ready: new provisions in the Foreign Account Tax Compliance Act (FATCA) are coming, and the government is helping companies prepare for the change.

On Oct. 29, the U.S. Treasury Department and the Internal Revenue Service (IRS) issued a joint notice to foreign financial institutions concerning an upcoming FATCA provision to help those institutions become fully compliant with U.S. law. The notice also includes a draft of the statement that the U.S. seeks to sign with foreign financial institutions concerning compliance.

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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