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ARTICLE · 27 FEBRUARY 2013

FATCA 3.0 For Funds And Securitization Vehicles

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The U.S. Internal Revenue Service has recently released final regulations under the so-called "FATCA" provisions found in Section 1471 through 1474 of the U.S. Internal Revenue Code.

United StatesTax
Milbank LLP
Milbank LLP
Andrew Walker
Andrew Walker
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On January 17, the U.S. Internal Revenue Service (the "IRS") released final regulations (the "Final Regulations") under the so-called "FATCA" provisions found in Section 1471 through 1474 of the U.S. Internal Revenue Code (the "Code"). The Final Regulations provide helpful guidance in many respects, but also leave a number of questions unanswered. Our previous March 2, 2012 Client Alert (click HERE to view), addressed how, as a general matter, the implementation of FATCA raises concerns for offshore securitization vehicles such as collateralized loan obligation and collateralized debt obligation issuers (which we refer to collectively in this Client Alert as "CLO issuers"). This Client Alert addresses how the Final Regulations will affect CLO issuers and their managers.

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