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TREAS/IRS RIN: 1545-BL96 Publication ID: Spring 2019 
Title: Regulations Relating to Verification Requirements of Sponsoring Entities for Chapter 4 Withholding Purposes 
Abstract:

This regulation provides additions to final regulations issued under chapter 4 of subtitle A (sections 1471 through 1474) of the Internal Revenue Code of 1986, commonly known as the Foreign Account Tax Compliance Act, or FATCA. In Treasury Decision 9610 (78 FR 5874), the Treasury Department (Treasury) and the IRS issued final regulations under chapter 4 regarding reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding on payments to FFIs and other foreign persons. The final regulations issued in TD 9610 affect persons making certain U.S.-related payments to FFIs and other foreign entities and payments by FFIs to other persons. The IRS and Treasury are issuing this Notice of Proposed Rulemaking to add new verification requirements for FFIs that are "sponsoring entities" that perform chapter 4 obligations on behalf of other "sponsored" FFIs or Non-Financial Foreign Entities (NFFEs).

 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: 26 CFR 1.1471-4    26 CFR 1.1471-5    26 CFR 1.1472-1   
Legal Authority: 26 U.S.C. 1471    26 U.S.C. 1472   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  01/16/2017  82 FR 1629   
NPRM Comment Period End  04/06/2017 
Final Action  09/00/2019 
Additional Information: REG-103477-14 Drafting attorney: Charles Rioux (202) 317-6942 Reviewing attorney: John Sweeney (202) 317-6942 Treasury attorney: Jason Yen (202) 622-1776 CC:INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Charles Rioux
Attorney-Advisor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 617-6942