The US Department of the Treasury has made significant changes to the rules requiring sponsored entities, trustees of trustee-documented trusts and financial institutions (FIs) to certify their compliance with the Foreign Account Tax Compliance Act (FATCA).
Certifications for periods ending 31 December 2017 should be made on or before 31 March 2019. Special rules apply for foreign FIs in so-called Model-1 IGA jurisdictions: Denmark, France, Germany, Italy, Mexico, the Netherlands, Norway and Spain.
