April 30, 2022

The Foreign Account Tax Compliance Act (FATCA) was signed into law in March of 2010 and now applies to payments made on or after January 1, 2022.   The original target of the FATCA withholding tax was foreign banks with U.S. account holders.

The legislation’s drafting was so broad it captures payments to non-bank entities too.

Are you making payments to any non-U.S. payees?  Find out how to become compliant with these new rules. Learn more here.