We originally Posted on October 25, 2012 - FATCA Timelines for Due Diligence & Other Requirements - Ann 2012-42, which discusses IRS Announcement 2012-42. The announcement presents new timelines for due diligence, withholding and documentation requirements as well as guidance on gross proceeds and grandfathered obligations.
The following are the key timeline changes announced and a graphic charting of the changes:
The announcement also includes a table to summarize the timing of certain due diligence requirements for withholding agents and financial institutions..
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Source:
BNA
Deloitte
Read more at: Tax Times blog
