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ARTICLE · 13 AUGUST 2014

Investment Funds Update: FATCA Registration And Reporting

Matheson
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Irish domiciled funds are generally now subject to FATCA, a United States reporting and withholding tax regime.

IrelandFinance and Banking
Michael Jackson
Michael Jackson
Niamh Counihan
Niamh Counihan
Anne-Marie Bohan
Anne-Marie Bohan
Shay Lydon
Shay Lydon
Liam Collins
Liam Collins
Tara Doyle
Tara Doyle
Philip Lovegrove
Philip Lovegrove
Joe Beashel
Joe Beashel
Elizabeth Grace
Elizabeth Grace
+2 more
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Irish domiciled funds are generally now subject to FATCA, a United States ("US") reporting and withholding tax regime. Ireland has actively engaged with the US to ensure that the FATCA reporting obligations for Irish financial entities, including Irish domiciled funds, are as straightforward and streamlined as possible.

FATCA is designed to ensure increased tax compliance by US taxpayers with respect to accounts held in non-US financial entities. FATCA seeks to achieve this compliance by imposing a 30% US withholding tax on certain US source payments to non-US financial entities that do not facilitate reporting of their US accountholders to the US Internal Revenue Service ("IRS").

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