The NZ Bankers’ Association made a submission to the IRS in June 2011 requesting that banks registered under the Reserve Bank of New Zealand Act be exempted from their obligations under FATCA. The submission, which was dated 7 June 2011, also endorses...
A while ago I wrote about a call I had from a financial planner in New Zealand whose client had allegedly been denied an account and said I would research these allegations further. I have been doing some research on FATCA today as I write an update on this for the...
We are now watching the developments in respect of the United States Foreign Account Tax Compliance Act (FATCA) very closely. Awareness of the ramifications of this legislation is rising rapidly as another year draws to a close and the date of effect moves closer....
One of the new additions to the reporting requirements for United States taxpayers with financial assets located outside the United States is a new form 8938. It is currently being developed by IRS and is effective for taxable years beginning on or after January 1,...
