Entities and Data at Fatca's Crossroads
With the US Internal Revenue Service’s (IRS) Fatca Registration System now available in “beta” mode through the end of the year, firms looking to register their foreign transactions and their status concerning foreign business now have something to work with in compliance efforts.
The IRS has set these registration categories: participating foreign financial institution (PFFI), registered deemed-compliant FFI (RDCFFI), limited FFI, and sponsoring entity. Users of the IRS Fatca Registration
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