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美国《海外账户纳税法案》(FATCA)系列文章
作者:home99
发表时间:2012-04-08
更新时间:2012-04-08
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下面就将我看到的一些关于美国“海外账户纳税法案”的系列文章贴出来,与大家一起学习与分享啊!

●FATCA常见问题(FAQ)
●FATCA ── 我们的现状
●FATCA ──基金篇
●FATCA ──银行篇
●FATCA FAQs: Frequently asked questions on the Foreign Account Tax Compliance Act

――――――――――――――――――――――――――――――――――――
FATCA常见问题(FAQ)

1.什么是FATCA?
FATCA指美国的《海外账户纳税法案》(Foreign Account Tax Compliance Act)。通俗地说,即指于2010年3月18日签署成为法律,并将于2013年1月1日生效的《奖励聘雇恢复就业法案》(Hiring Incentives to Restore Employment Act)中所载的某些规定。该法案已添加成为美国《国内税收法》的一个新章节(第4章),旨在解决已察觉到的美国人滥用海外账户规避税收的问题。有关新规定要求外资金融机构(“FFI”)向美国国家税务局(“IRS”)提供关于投资于美国境外账户的某些美国人的信息,及就某些非美国实体,提供关于任何美国拥有人的信息。

2.谁会受FATCA影响?
使用美国来源收入付款的任何实体都必须考虑其是否受FATCA规限。FATCA可能对金融和非金融运营公司均适用。由于其所涉范围极广,FATCA几乎直接或间接影响获取大多数类型的美国来源收入(包括来源于可产生利息或股息的美国财产的销售或处置的总收益)的所有非美国实体。
向非美国人做出大多数类型的美国来源收入付款的美国实体(包括金融和非金融实体)也将受到影响,因为根据FATCA规定,他们现在可能需就支付给非美国人的收入扣缴30%的税款。这将要求美国实体保持记录有关该等非美国人的信息,并且还需追踪了解根据FATCA规定该等人士应如何分类。

3.什么是FFI?
FFI指外资金融机构,即从事以下业务的任何非美国实体:
●在日常银行或类似业务中接受存款,
●主要业务部分为代为持有他人账户中的金融资产,或
●主要从事(或自称主要从事)投资、再投资业务,或证券、合伙权益、商品、或该等证券、合伙权益或商品中的任何权益的交易业务。
一般而言,银行、经纪人/经销商、保险公司、对冲基金、证券化工具和私募股权基金等非美国实体将被视为FFI。
目前尚未就投资工具和保险公司设立最低门槛。

4.什么是FFI协议?
一般而言,FFI必须与美国财政部订立一份协议(称为“FFI协议”),通过该协议,FFI能避免就其收到的付款缴纳FATCA预扣税(及成为一家参与FFI)。一般而言,FFI协议要求遵从核查和尽职审查程序,确定哪些账户属于“美国账户”(一个已定义的术语),并遵从其他IRS申报要求,就此类美国账户向美国财务部做出年度申报(见下文),并预扣30%的税款(如适用)(例如,顽抗型的账户持有人、非参与FFI、选定FFI等)。
与IRS订立FFI协议的FFI必须报告关于其美国账户的以下信息:
●身为指定美国人的各账户持有人的姓名、地址和纳税人识别号码(“TIN”),如果任何账户持有人为一家美国拥有的外国实体,则报告有关实体的各实质性美国拥有人的姓名、地址和TIN。
●账号
●账户余额或价值(时间有代规定澄清)
●可能还须报告总收入和提款总额,或从账户做出的付款(时间和方式有代规定澄清)。
或者,FFI可以选择为指定的美国人或美国资拥有的外国实体的各账户持有人提供完整的IRS表1099申报,如同账户持有人身为一个自然人和美国公民。

5.FATCA是否一定会贯彻实施?
是的,FATCA已经签署成为法律。美国财政部以通知和/或规定形式公布的指南,将进一步阐明申报要求,且预期将于2012年夏季定案。

6.FATCA的生效日期是否将延迟?
生效日期为2013年1月1日已成为一项法定命令,因此,若要更改,将须经美国国会表决。
美国财政部可能将允许在受影响客户能证明其确实正趋向合规的情况下,寻求处罚宽免;然而,目前尚不知晓此类宽免的确定性。

7.为什么现在就开始担忧FATCA?
虽然FATCA要到2013年1月1日才会生效,但公司有必要现在即开始考虑此项法案。制度执行过程将需花费一段时间,在某些情况下,可能需要18到24个月。因此,应完成初步试行分析,以便对预算进行适当规划。德勤已经成为执行此类分析的领导者。

8.某些国家/地区是否将获得特殊豁免⋯⋯或国家/地区能否与美国财政部协商特殊条款?
到目前为止,美国财政部尚未表示将提供特殊豁免。

9.我所处的国家/地区已经与美国签订税务协定,这是否意味着我们免受FATCA规限?如果不是这样,这些制度如何同时实施?
国家/地区已经与美国政府订立避免双重征税协定或信息交流协定的事实,不会使身处有关司法管辖区内的个人或实体获得豁免,免于承担必须遵守FATCA规定的义务。个人或实体必须遵守FATCA规定,其或其客户才有权享受协定利益。信息交流协定在政府寻求关于特定纳税人的信息时使用。

10.我只有几个美国账户持有人。如果我注销他们的账户,我能否免受FATCA规限?
在目前情况下,FATCA规则的应用并非受FFI是否实际拥有美国客户驱动(重申一次,有关规则更加关注获取某些类型的美国来源收入和来源于可产生利息或股息的美国财产的销售或处置的总收益的非美国实体)。因此,注销此类账户将不会使您免于遵守FATCA规定。

11.什么被视为美国身份标记?
2010-60通知函(Notice 2010-60)列出了六种美国身份标记:
●有迹象显示账户持有人为美国公民或居民
●出生地为美国
●邮寄或永久地址为美国
●仅提供一个邮政信箱地址、转交地址或代存邮件地址的账户
●授予拥有美国地址的人士代理权(“POA”)或签名权
●付款至美国账户的指示或从美国收到的任何指示
具有以上标记之一,并不表示账户是由一名美国人拥有,仅仅表示必须更严格地详细审查。

12.哪些类型的付款受FATCA规限?
FATCA规定适用于“可扣缴”付款。“可扣缴付款”定义如下:
●任何利息(包括任何投资组合利息和原始发行折扣)、股息、租金、专利权费、薪金、工资、年金、许可费和其他固定或可确定的年度或定期(“FDAP”)收入、收益及利润付款,如果该等付款是来源于美国销售或处置美国财产的任何总收益,而该类财产可产生利息或股息
●由美国银行的外国支行支付的利息
●根据FATCA,与美国业务有实际联系的收入一般可豁免预扣税。

13.外汇交易是否受FATCA规限?
我们认为可扣缴付款将不包括外汇(“FX”)付款。虽然来自此类合同的收益一般会申报为总收益,但FATCA规则似乎仅适用于来源于销售或以其他方式处置任何财产(该类财产可产生来源于美国境内的利息或股息)的收益。这可能会按规定变更。

14.汇款是否受FATCA规限(即,身居美国的某人向居住在我所处国家/地区的家庭成员寄钱)?
不会,身居美国的某人若仅向身居海外国家/地区的某人做出汇款,不会引起FATCA预扣税。
然而,汇入美国账户的款项和在美国账户中赚取的收入可能须受FATCA申报要求规限。此外,向一个美国境内账户的汇款指示属于美国身份标记之一。

15.FATCA预扣税与目前美国金融机构(USFI)进行的预扣税有何不同?
尽管FATCA预扣税为百分之三十,但与当前美国预扣税制度相比,它适用于各种不同的收入类型,而且无论是否存在法定或协定豁免或减少,其均适用。

16.我只处理少量富裕家庭的业务,这些家庭我个人都认识。我可以不要求他们进行额外记录吗?
这将取决于您的客户具有哪种类型的记录,以及根据预扣税规则,美国财政部有什么最终要求。

17.如果我们将全部直接投资和我们客户的投资转移到美国境外,我们将不必担心FATCA,是吗?
如果一家非美国实体没有直接或间接投资于任何美国证券、获取任何FDAP收入、或从美国银行的外国支行获取任何银行存款利息,则其将不受FATCA预扣税规限。非美国实体将需监控收入来源和投资,以确保未持有会因此而使其须受FATCA规定规限的美国来源投资。
如果您从任何间接来源获取美国来源收入,则您将须就您的收入或总收益缴纳30%的预扣税。由于存在潜在风险和预扣税风险,某些大型金融机构还可能不会与不遵从FATCA规定的实体开展业务。

18.我所处的国家/地区制定有禁止与美国政府共享客户信息的隐私或保密法律。我该怎么做?
FATCA规则要求您让任何美国客户放弃其于隐私或保密规则项下的权利,以便您可以向美国政府报告他们的信息。如果他们拒绝放弃,则您需注销账户。

19.我与美国没有任何业务往来。如果我选择不签署FATCA协议,是否将对我造成影响?
您是否受FATCA规则影响并非受您在美国有无业务驱动,其仅仅取决于您是否有获取任何“可扣缴”付款。

20.美国财政部或IRS是否会公布一份美国人名单?
否,美国财政部将不会公布美国人名单。

21.有没有任何政府与美国财政部就设立规则的排除情况或其他除外情况进行交涉?
我们知道,美国财政部正在与几个其他海外国家/地区就FATCA规则的实施进行讨论。然而,现在还不可能知道此类讨论将带来什么影响。

22.有没有任何其他国家/地区计划采取类似的制度?
我们听说有几个其他国家/地区正在考虑类似于FATCA的规定。

23.什么是美国来源付款?
美国来源收入指来源于美国境内的收入。收入来源根据收入类型确定。报酬收入来源指履行产生收入的服务的地方。某些收入来源(例如,股息和利息)根据付款人的居住地确定。物产收入来源根据物产使用的地点确定。众多其他规定适用。

24.如果一个联名账户由一个美国人和一个非美国配偶共同持有,应将其视为50%的美国账户,还是百分之一百的美国账户?如果他们不是美国居民,是否会有所不同?
具有一位美国拥有人的联名账户被视为美国账户,且整个账户须申报为美国人账户。

25.在税务协定项下获得预扣税豁免的银行存款利息,在FATCA项下是否须缴纳预扣税?
是的。根据FATCA规则,银行存款利息(包括由一家美国银行的非美国支行支付的利息)属于可扣缴付款。

26.根据FATCA,是否所有总收益均须缴纳预扣税,还是只有与股票和债券销售有关的部分才须缴纳?
不是。根据FATCA规则,只有来源于美国财产(该类财产能产生利息或股息)销售或处置的总收益方须缴纳预扣税。
27.FATCA涵盖哪几类保险?如果我们不销售这几类保险,是否仍然需要签署FFI协议?
目前,大多数保险公司均须受FATCA规限。美国财政部已经在初步指南中确定,非美国保险公司属FFI,并且已表明,其仅打算排除开立定期寿险,财产和意外险等无现金价值的合同的保险公司。根据FATCA,非美国人通过由美国发行机构或其外国分支机构开立的保单或合同获取的年金付款和人寿保险合同收益,目前被视为FDAP,且被视为“可扣缴付款”。

28.对于一名美国账户持有人,我仅应向IRS报告其美国收入和收益,还是也应报告来源于非美国资产的收入和收益?
后者。您需报告指定美国人获得的全球收入和收益。

29.我的客户都是公司(没有个人客户)。这是否会让我的工作更简单?
不一定。向非美国个人做出的可扣缴付款无须缴纳FATCA预扣税。然而,根据FATCA,向非参与FFI或其他特定非美国实体做出的可扣缴付款(即,美国来源FDAP收入和销售或以其他方式处置任何财产(该类财产可产生来源于美国境内的利息或股息)的总收益)有可能须缴纳预扣税。

30.我们集团拥有一家美国金融机构(USFI)。它们在FATCA项下有何责任?由于该所有权,我们在当地国家/地区的责任有何变化?
USFI将需遵循特定记录程序,确定如何对持有先前存在的金融账户,且向该账户做出可扣缴付款的实体进行分类。USFI还必须采用与现有实体账户所用程序相似的程序,确定如何处理新实体账户,但必须使用其收集的所有信息(不仅仅是“电子可搜索信息”)。任何当地国家/地区责任均不会因在结构中拥有USFI而改变。

31.如果我们改变公司结构,USFI因此而成为母公司,这会改变我们在当地国家/地区的责任吗?
更改您公司的结构,USFI因此而成为母公司,不太可能会改变任何当地国家/地区的责任。即使事实如此,在2010-60通知函中,美国财政部已表明,对于也属于受控制的外国公司(“CFC”)的FFI(某些最终受控于一家美国母公司或股东的非美国实体),即使它们可能已经须进行记录和申报,也将受FATCA规限(也就是说,它们必须成为参与FFI,方可免交第4章项下规定的预扣税)。

32.我们有一些不会向我们提供FATCA所需文件的非美国客户。例如,在小镇上,有些客户没有护照或驾驶证。根据FATCA,他们将分类至“顽抗型”且要缴纳预扣税。是否有程序让这些人规避文件要求?
没有。一般而言,任何一个50,000美元以上的账户,若其账户持有人不遵从合理要求来提交必要文件以确定该账户是否为美国账户,将视为“顽抗型账户持有人”,须就会产生利息或股息的可预扣付款和销售或处置美国资产总收益缴纳30%的预扣税。

33.在不失去FFI协议的情况下,我们能有多少个顽抗型账户持有人?
不确定。至今为止,若顽抗型账户持有人数目在一段合理时期后保持不变,IRS和美国财政部已表明他们将“考虑终止”FFI协议。
34.我们在多个国家/地区开展业务。为累计账户余额满足账户持有人50,000美元最低限度,我们是否应考虑一家支行、一个国家/地区、一个法律实体等?
2010-60通知函规定,该等FFI账户持有人持有的所有存管账户,必须要求属于相同“扩展关联集团”成员的FFI一并视为单个金融机构,以确定最低限度标准是否适用。但IRS有权将此限于逐个实体分析。

35.我们已将公司划分为银行、经纪和保险类别。若同一个投资者与我们集团的不同成员存在经纪、保险和银行关系,我们是否必须累计所有这些关系以满足最低限度规则,或我们是否应单独累计来源于经纪账户或银行账户?
最低限度规则仅适用于“存管账户”。因此,在确定最低限度除外情况是否适用前,必须分析客户在各上述FFI开设的账户类型以确定是否为存管账户。

36.我们的业务从技术而言,属于FATCA规则下的FFI,但我们只有一家客户,该客户是一家关联公司。我们能否申请豁免?如果不能,规则是否存在任何减轻情况?
FATCA规则为管理体制提供一种重要除外情况,部分FFI将“视为”满足报告要求,条件是FFI a)遵守规定程序确保FFI不持有美国账户;和b)满足有关FFI持有其他FFI账户的规定要求。至今,IRS尚未发布有关除外情况的程序。

37.其他FFI是否计划使用50,000美元最低限度规则?
据我们了解,大量FFI不会使用50,000美元最低限度除外情况,因为改变多个系统以计算存管账户的价值存在困难。

38.其他FFI是否计划与美国财政部签署协议?
我们预期全球大部分约250,000个FFI将成为参与FFI,因而订立FFI协议。

39.其他FFI是否计划关闭美国人士的账户?
FATCA规定,若账户持有人未能向FFI提供任何阻止FFI收集必要FATCA文件的外国法律宽免,FFI应关闭账户持有人的账户。至今,IRS和美国财政部仅发布了账户报告的指引,有关FATCA必要的文件还未提供。

40.关联集团所有成员必须签署FATCA协议的规定是否存在任何除外情况?例如,母公司能否代表整个集团签署?
从规则字面来看,关联集团的每个FFI均需与IRS订立一份单独的FFI协议。目前尚不清楚未来指引是否允许为FFI及其全球业务合并订立FFI协议。

41.当地法律不允许我为外国政府收税。若美国希望我对顽抗型账户持有人征收FATCA预扣税,我该怎么做?
FFI可选择一个预扣税代理人(或另一个FFI进行付款),就可分配至顽抗型账户持有人或未订立有效FFI协议的FFI持有账户的付款支付预扣税。若FFI作此选择,则需要向预扣税代理人提供必要资料,以便预扣税代理人确定预扣的适当金额。此外,FFI将需要放弃美国税收协定下有关任何预扣金额的任何权利。

42.若根据FATCA产生预扣税,我的客户或我如何追回?是否有规定流程?
除以下部分重要除外情况之外,若向FFI或非国外金融实体(NFFE)支付的可预扣付款,其预扣金额可根据在标准当前非本地居民预扣税(“第3章”)以其他方式退还,该等金额可退还付款的受益人。若受益人为FFI,FFI仅在享有适用双重所得税协定下的预扣税率缩减的情况下有权获得贷项或退款,不论付款是否因其他原因而无需缴纳美国预扣税。另外,若受益人为NFFE,则不能获得贷项或退款,除非实体向美国财政部提供确定其是否为“美国拥有的外国实体”及确定其“主要美国拥有人”所需的资料。

43.在问题42所述情况下退款或贷项遭到拒绝,是否意味着FATCA优先于我所在国家/地区与美国的双重征税协定?
美国财政部似乎认为根据FATCA预扣的税项符合其在现行所得税协定下管理贷项和退款程序的权限。例如,根据此权限,美国可在付款时按相关法定税率要求预扣税,并允许协定国家/地区居民通过退款流程获得协定利益。

44.我没有准备表格1099报告。报告管理体制如何,我能否将报告责任推给我的美国托管人或通讯者?相反,我的FFI账户持有人能否将责任推给我?
表格1099报告是适用于大多数美国银行的信息报告管理体制的一部分。至今为止,规则并未明确允许FFI将其报告责任推给其美国托管人或通讯者。

45.是否存在任何非美国账户报告?例如,我是否要报告顽抗型账户持有人的预扣税?
FATCA未规定对非美国账户进行报告。但2010-60通知函指出,IRS和美国财政部有意发布指引,说明参与FFI需要报告顽抗型账户持有人(可能包括非美国账户持有人)所持有金融账户的数量和总值,以及相关或不相关未参与FFI所持有金融账户的数量和总值。

46.FATCA预扣税是否仅适用于美国来源收入和收益?如果我不确定来源该如何?
FATCA预扣税仅适用于可预扣付款,界定为来自“美国境内来源”的特定收入和总收益。

47.如果我知道一名客户是美国人,我是否适用最低限度规则?
是。符合最低限度除外情况的任何存管账户将不被视为美国账户(即无需做出FATCA报告)。

48.最终规则何时发布?
不确定。我们得到的最新消息是2011年第一季度末将发布另一份通知,并将在2011年第三季度发布拟定法规。但IRS不会说明发布内容或时间。

49.我必须收集哪些额外资料?
需要收集的资料预期会在即将发布的法规中列明。此时,2010-60通知函要求FFI以电子形式搜索其现有个人账户记录,以查明此类账户是否为美国身份标志。美国身份标志包括:
(i)任何账户持有人身份为美国居民或美国公民;
(ii)账户持有人存在相关美国地址(不论居住地址或通讯地址);
(iii)账户持有人出生地为美国;
(iv)账户持有人相关文件上的唯一地址为“转交”地址、“代存邮件”地址或邮政信箱地址;
(v)委托书或签名权限授予有美国地址人士;或
(vi)附有常行指示将资金转至美国账户,或收到来自美国地址的指示。
FFI和USFI也需要分析可通过电子形式搜索的资料,以确定已存在实体账户是否属于其他外资金融机构或外资非金融实体。FFI和USFI需要使用所收集的所有资料(不仅是“可通过电子形式搜索的资料”)对新帐户执行类似程序。

50.我如何存入预扣税?机制和频率如何?
应使用EFTPS存款。存款频率目前尚未确定。

51.我的部分账户持有人为其他FFI,包括仅向本地农民贷款及明显无任何美国客户或投资的专业小型银行。由于他们没有美国来源收入,他们无需缴纳预扣税。即使他们为“顽抗型”,若他们选择不与美国财政部签署协议,是否会要求我关闭其账户?
不会,关闭账户的规定适用于账户持有人拒绝放弃其保密权利的保密国家/地区。但2010-60通知函中,美国财政部指出参与FFI不能让“过多顽抗型账户持有人存在过长”时间。此规则的运用方法尚不明确。

52.我们的部分美国账户持有人询问2013年1月1日新法律生效前他们应该怎么做。您能否给出一些具体建议?
我们建议他们联系他们的税务顾问询问关于相关条文应用的问题。

53.若一项合伙企业中一名美国人有25%的所有权,3名外国人拥有75%,股息收入将如何报告?
若美国人表现为主要美国拥有人,则是唯一要向美国政府报告的拥有人。非美国人士将不受FATCA报告或预扣税约束。但若美国人被视为顽抗型,则所有美国来源可预扣付款均需缴纳30%的预扣税。

54.我了解到信托视为FFI,但这是否适用于父母为子女以信托形式设立的账户?这种情况下谁的信息该做记录,是让与人或是受让人?若信托不可撤销,是否要紧?
这种信托通常属于FFI。但2010-60通知函规定,个人为其子女唯一利益而设立和拨款的小家庭信托可“视为合规”,但前提是预扣税代理人查明在实体中拥有直接或间接所有权的个人、指定人士或NFFE除外的机构;若该人士为预扣税代理人新账户持有人,必须获得所需的文件;并报告任何指定美国人士。

55.现在我可以开始做哪些准备?
现在您应考虑做几件事情为您的企业做FATCA相关准备。
1)确定组织内谁负责此计划;
2)成立指导委员会,涵盖所有受影响的业务和职能;
3)开展评估帮助确定法例对组织的相对影响及解决合规必要措施所需的预算。

56.若某国家/地区不允许其银行遵守FATCA规则会如何?
未经美国国会法案对部分国家/地区豁免FATCA,支付给未参与FFI的可预扣付款须缴纳30%的预扣税。

57.我如何向德勤了解更多信息?
您可访问德勤FATCA网站www.Deloitte.com或联系以下任何人士:

FATCA领导团队
如欲了解更多信息,请联系:
亚太区
Jim Calvin
FATCA领导人,亚太区
电话:+212 410 4422
电子邮件:[email protected]
韦建勋

合伙人
电话:+852 2852 6479
电子邮件:[email protected]

崔冰
副总监
电话:+86 10 8512 5610
电子邮件:[email protected]

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FATCA ── 我们的现状
美国《海外账户纳税法案》(FATCA)系列(毕马威会计师事务所)

重点
●海外银行和其他金融机构必须与 美国国税局达成协议并识别美国账户,否则,海外银行和金融机构 拥有人可能须缴纳 30% 的预扣税。
●受影响的外国金融机构 (FFI) 的定 义很广泛,其中包括管理投资的实 体,如另类投资实体和保险公司。
●非金融外国实体 (NFFE) 将须披露 是否有美国拥有人持有超过 10% 的权益。未有说明实体是否存在美 国拥有人的 NFFE 可能须缴纳 30% 预扣税。

2010年3月28日,美国总统奥巴马签署了《海外账户纳税法案》, 使其正式成为法律。为了防止美国人士滥用离岸避税,该法案包括 一项新的预扣税税制,针对那些拒绝披露持有海外账户的美国人士 身份的外国实体,向它们征收 30% 预扣税。

美国国会在新税制的执行方面,采纳了财政部的大部分建议。新的 预扣税税制將对金融机构、投资实体和许多其他跨国机构有着广泛影响。

虽然该立法已通过近一年,我们也从美国财政部和国税局官员那里获得了一 些认识和初步的指引,但仍有许多有待厘清之处。

该法案将於 2013 年 1 月 1 日起生效,表面看来给予各机构充分的时间作准 备,但由于税制改变之大,整个金融业都希望财政部能早日提供详细资料。 金融机构和其他受影响的实体必须考虑,在新的预扣税制度下,它们对客户 的看法会否不同。它们还应考虑系统功能和运作流程可能出现的转变,以及 传统的美国预扣税概念与新税制的配合。

如果没有详细的指引,受影响的实体或许无法:
1. 开始启动适当的流程以在法律生效日期时符合新规定的要求;或

2. 作出精明的决策,考虑在 FATCA 生效后继续“如常运作”是否仍然是正确 及具有商业意义的。对于规模较小的外国金融机构 (FFI) 而言,全面从美 国撤资可能更为明智。

为了遵循 FATCA 的规定,金融机构将需要修改其企业系统,估计需要大约 18 -24 个月的时间。因此,为了能够在当局颁布指引时迅速行动,各受影响的 金融机构做好战略性的定位是至关重要的。

在参与制定任何计划前,全面评估对 FATCA 的了解程度,包括已充分掌握的 FATCA 范畴和需要进一步指引的领域是非常重要的。为了协助实现此目标, 我们在下文概述了该法律已提供充分说明的新税制的机制、需要额外指引的 地方、实体目前可采取的行动,以及介绍毕马威就此可提供的协助。

已了解的部分

以下是我们已了解的法律内容,虽然略短,但提供了新预扣税税制的基本框 架:
1. 如果 FFI 没有与美国国税局签订协议同意识别并每年直接向国税局披露 其美国账户持有人,FFI 所获支付的任何可预扣款将须缴纳 30% 预扣税。

2. 同样地,如果非金融外国实体 (NFFE) 不能证明其并没有重大的美国拥有 人,或没有向其上游付款方披露那些美国拥有人的身份(上游付款方应继 而向国税局披露那些美国拥有人的身份),NFFE 所获支付的任何可预扣款 将须缴纳 30% 预扣税。

3. FFI 可选择使用表格 1099 (此表格规定收款人使用美国报税识别号码)进 行申报,以代替 FATCA 规定的年度申报要求。

4. 根据草拟规定,FFI 的定义极为广泛,其中包括对冲基金、私募股权基金 和其他集体投资工具。

5. 同样地,可预扣款的定义也极为广泛,包括来自美国的固定或可确定的年 度或定期收入 (FDAP) ,以及出售或以其他方式处臵资产而产生美国利息 或股息的总收入。

6. 最后,不论最终法规有何规定,企业为符合 FATCA 规定而执行工作时, 不应单纯视之为 “税务” 项目。FATCA 规定将涉及大幅提升系统效能,改 变开户的控制工作和程序,以及重整许多业务流程。这需要由多个部门组 成的团队鼎力参与。

有待厘清的部分

如前文所述,相对已了解的内容,有待厘清的部分较多。以下是部分仍未解决,有待提供进一步指引的重要问题:
1. 税款扣缴代理人或 FFI 如何识别付款方是 FFI 或 NFFE? 举例而言,由于 FFI 的定义包含 “投资工具”,一家实体是否属于 FFI 类别有时并不十分 明确。

2. 根据实体与美国国税局签订的 FFI 协议,FFI 须识别由美国人士拥有的 账户。FFI 需要执行哪些步骤以符合这个规定?
●各类 FFI (如传统的金融机构、集体投资工具、保险公司和其他跨国 企业) 的文件记录准则是否是统一的?
●当局容许 FFI 在何种程度上依赖其以往为符合地方针对了解客户 (KYC) 和反洗钱 (AML) 规定而取得的文件记录?
●不受地方 KYC/AML 规定约束的 FFI 须遵守哪些文件记录准则?
●当局会否为 FFI 的现有账户提供文件记录的过渡期规定?
●对于永不收取可预扣或过手付款 (passthru payment) 的账户,FFI 是 否须遵守相同的识别和文件记录规定?

3. 如果账户持有人拒绝放弃其不披露权利 (即不合作的账户持有人),而地方法例或合 同又禁止 FFI 取消有关账户,参与的 FFI 须采取什么行动?

4. 根据过手付款的概念,收入会在何种程度上再确定来源?

5. 不属于 “预扣 FFI” 的 FFI 如何把预扣资料转交其上游付款方?

6. 美国财政部会否豁免 “避税风险低”的实体,或对该等实体实施较宽松的 FATCA 规 定? 实体在什么情况下毋须遵守 FATCA 规定,以及如何向付款方 (FFI 或美国税款 扣缴代理人) 说明这情况?

7. NFFE 如何提交有关其重要美国拥有人的资料 (或证明其没有重要美国拥有人)?

8. 针对多缴的预扣税的退税程序是什么?

9. 对目前用以记录海外账户持有人的表格 (如表格 W-8BEN) 有什么影响?

10. FFI 将以什么形式申报?

11. 如何核实 FFI 和 NFFE 的合规水平?

12. FATCA 规则如何应用于保险业? 同样,FATCA 规则如何应用于作出离岸卖方付款的跨国企业?

企业现时该采取什么行动?

虽然 FATCA 规定的法律框架已就位,但很明显未知的元素多于 FATCA 确定的方面。虽然如此,企业现阶段仍可考虑着手采取一些积极的措施,包括:
1. 培训高管人员。毫无疑问,执行FATCA将是个复杂、繁重且昂贵的工作。 高管人员在前期阶段對 FATCA 规定的了解尤其重要。高管人员需要了解 潜在的成本和违规后果,以便在合规工作上调度资源 (或作出战略性退出 的决定)。

2. 找出将受影响的所有相关集团实体。

3. 找出各实体内可能属于受影响范围的所有业务部門。如上文所述,有关一 般 FDAP 付款类别的规定很清晰,但针对特定保险产品和常规的卖方付 款的规定则未有明确指引。

4. 找出各个受影响业务领域的关键人员,并尽快筹组核心项目团队。团队应 由熟悉预扣税、营运、以及信息技术和风险管理的专业人员组成。FATCA 无疑具有全球性的影响,因此团队成员可能需要遍布世界各地。

5. 找出收入流和收款账户的性质。

6. 根据现时所得资料,厘定可能与流程相关的账户。这可能包含以下各方持
有的账户: a) 接受存款或代表其他方持有证券,因而很可能须符合最高合规准则的
FFI;
b) 主要从事投资、再投资或买卖证券、合伙权益、商品或任何该等工具 权益的机构 (注意,这个组别内的某类实体可能完全被视作不属于 FATCA 规则的适用范围或可能被视作 NFFE);
c) NFFEs;
d) 获豁免的实益拥有人。

7. 进行高层次系统分析,包括审查核心的预扣和识别系统,以厘定 FATCA 预扣是否可行,并审查静态数据系统,以确定是否可建立 FATCA 指标来 识别上述第 6 项所列的各种账户 (和在有需要时采集相关的申报数据)。

8. 找出各项法律问题。例如,企业现在必须知道它们经营业务的司法管辖 区是否禁止:1) 披露美国人士拥有的账户;或 2) 因无法取得必要的豁 免而取消该账户。

9. 促进客户对 FATCA 预扣稅规则的认识。由于新的 FATCA 预扣稅规则对 部分客户有很大影响,客户教育是很重要的。机构可根据与客户的关系 考虑单纯向客户解释账户的处理方式,或举办正式的教育工作坊。

10. 紧贴美国财政部不时颁布的指引,并参与 FATCA 行业组织。

毕马威可提供的协助
毕马威能够在 FATCA 各方面的合规工作上,为客户提供完善的协助。我们 在过去十年建立了一个极为成功的全球美国预扣税网络。我们以成熟及领先 的模式满足客户在现行美国预扣税税制方面的需求,特别是有关具有资质的 中介机构的法规。我们也在中港两地建立了一个擅长于处理美国预扣税事务 (包括 FATCA)的专业人员网络。

我们全球的美国预扣税专业人员均得到毕马威美国的信息报告部支持。这个 部门监察所有影响美国预扣税事宜的发展,并把资料发布予本所的全球预扣 税团队成员。该部门高度关注 FATCA 的发展,一直积极就相关的 FATCA 事 务与行业组织和美国政府接触。信息报告部的成员包含以下各领域的专业人员:
●美国预扣税 ── 信息报告部从新概念的一般应用以至对各类实体 (如基金、保险公司和合伙公司) 的具体影响,全方位密切监察 FATCA 规则。此外,部门积极参与各行业组织,这些组织正在向美国财政部 和国税局表达对于 FATCA 的关注。部门还就 FATCA 事宜与美国财 政部和国税局的主要官员保持联系。
●反洗钱和了解客户规则 ── 这些规则无疑与最终的 FATCA 法规内 容和受影响实体需要承担的责任有莫大关系。毕马威团队能够协助客 户清晰了解现行规定,以及这些规定可能在 FATCA 方面的应用。
●流程重整 ── 因为 FFI 需要重整目前就开户、账户结构、收入、企 业行动和税务运作采用的流程,所以我们的流程重整专业人员担当着 非常重要的角色。
●系统 ── 不论当前有多少未知之数,但肯定的是,要符合 FATCA 规 定很大程度上取决于自动化流程。这些流程的功能必须大幅提升。毕马威的专业人员可确定现有的系统能力,协助客户修改和增强功能 性,以确保合规。
这种跨职能的工作方法让我们能够派遣熟悉美国预扣税和税务咨询的专业人 员,他们精通 FATCA 项目的监管规定,能为客户提供完善支援。
我们的工作方法有助确保毕马威的所有客户不论远近、时区或语言,都能够 得到我们适时的协助。

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FATCA ──基金篇
美国《海外账户纳税法案》(FATCA)系列(毕马威会计师事务所)

FATCA 介绍

美国政府正在更严厉的打击美国公民的避税行为。在各种措 施中,《海外账户纳税法案》(FATCA)将有力地提高美国政 府的控制力度,使得美国公民隐藏收入和财产变得更加困 难。该法案于 2010 年 3 月 18 日生效。对投资基金而言, 由此带来的预扣税和报告义务将有可能极大地改变目前的运营方式。

FATCA 条款广泛的适用于外国金融机构 (FFIs) ,包括投资 基金,要求报告其所有的投资人以识别其中的美国公民。根 据 FATCA 要求,海外银行和其他金融机构必须与美国财政 部达成协议并识别美国账户,否则,海外银行和金融机构拥 有人可能须缴纳来自美国任何形式资产(利息、股利和销售 总额)30%的预扣税。协议内容包括:
●识别美国投资者
●遵守核查和尽职调查程序
●对美国投资者账户进行年度报告,包括:年终结余,总收益和提款,以及账户关闭情况等
●在向未充分披露的投资者进行任何支付时,扣减和预提该金额的 30%
●按季度计算并公布直通付款(pass-thru payment)的比例
●满足财政部提出的其他信息要求

受影响方?

●美国市场投资基金,包括但不限于:基金中的基金,交易所交易基金,对冲基金,私人股本和风险投资基金, 其他基金,商品池和其他投资工具
●任何与适用 FATCA 的金融机构有交易往来的基金

2010 年 8 月 27 日发布的 2010-60 公告规定了实施 FATCA 总体框架。 2011-34 公告发布于 2011 年 4 月 8 日,进一步的实施准则 还在制定中。

亮点

●FATCA条款自2013年1月1日起实施
●同意参加该计划的基金将面临更多的尽职调查和文件要求
●在与美国国税局达成协议的情况下,基金将承担利息,股息或美国证券的总销售收入 30%的预扣税
●对特定的无记名债券的投资利息豁免被废止
●有义务对不遵守该法规的账户持有者(拒绝披露信息的美国投资者和无适当 FATCA 文档的非美国投资 者)、不加入 FATCA 的外国投资机构或不披露美国人持有超过一定水平权益的非金融外国实体预扣 30%的美国预扣税
●所有直接或间接为美国人持有资产的年度报告

境外信托机构

FATCA 使得美国政府的征税范围扩展至美国公民向非美国信托机构转移的资产。这项条款适用于 2010 年 3 月 18 日后发生的资产转移行为。这将对通过境外(如:开曼群岛)信托机构投资于香港/中国基金的美国投资者影响尤甚。

股息等价款支付

现今,证券借贷是投资资金管理策略的一部分。此类交易中的替代股息支付亦属此法案范畴内。该条款于 2010 年 12 月 4 日起生效。针对涉及美国证券借贷业务的外国金融,FATCA引入了额外机制(QSL状态)。

共同基金

对美国投资者的身份识别是 FATCA 法案最重大的要求。鉴于共同基金庞大的投资者数,识别美国投资者绝非易 事。香港基金的分销模式中包括分销商(如:银行,保险公司,资产管理公司)和过户代理人。这就意味着基金中的份额或股份被名义账户持有。
如基金为中间商进行包销,且该中间商遵守FATCA法案的情况下, 该中间商就承担识别投资者身份并向美国国税局(IRS)报告的义务。
如基金被不遵守FATCA法案的分销商所分销的情况下, 该基金就负责识别投资者身份并向国税局报告。这种情况下,过户代理人的作用就非常关键。
在分析分销渠道时,我们不仅要考虑到银行还有保险公司(如:基金连锁寿险保单)。

另类投资基金

今年,专业投资基金在市场上取得了重大成功。私募股权,房地产或对冲基金往往持有的投资者更为有限。事实上,它们是专门为机构投资者、私人银行的家族管家或合格的个人投资者量身定做的以便其直接或通过中介机构(如:信托或公司)进行投资。这些私募也需要进行充分的记录,以进行投资者的识别和报告到国税局,进而避免带来不利的预扣税后果。

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FATCA ──银行篇
美国《海外账户纳税法案》(FATCA)系列(毕马威会计师事务所)

什么是FATCA?

美国政府正计划更严厉的打击逃税行为。这样,在2010年3月18日《海外账户纳税法案》(FATCA)就应运而生。该法案 要求金融机构与美国国税局(IRS)达成协议披露其美国客户 信息,否则须对来源于美国的收入进行30%的预扣税。

谁将受到影响?

●所有以自营或代客账户投资于美国市场的银行或其他金融机构
●所有在美国市场以自营或代客账户投资的集团中的银行
●所有与参加FATCA协议的银行有义务往来的金融机构

FATCA简介

条款是对美国现存的(包括QI状态中)预扣税机制的一种补充而不是替代。在FATCA法案中,所有来自于美国证券的收入(利息,股息或销售收入)将适用30%的预扣税,除非该机构同意:
●识别美国公民账户
●配合查证和尽职调查流程
●对美国投资者账户进行年度报告,包括:年终结余,总收益和提款,以及账户关闭情况等
●按季度计算并公布直通付款(pass-thru payment)的比例
●在向“不配合账户所有者”、没有与国税局订立FFI协议的其它机构或不披露美国人持有超过一定水平权益的非金融外国实体进行转付款项时,扣减30%的预扣款
●满足国税局提出的附加信息要求

2010年8月27日发布的2010-60公告规定了实施FATCA总体框架。
2011-34公告发布于2011年4月8日,进一步的实施准则还在制定中。

亮点

●FATCA条款自2013年1月1日起实施
●在与美国国税局达成协议的情况下,基金将承担利息,股息或美国证券的总销售收入30%的预扣税
●同意参加该计划的基金将面临更多的尽职调查和文件要求
●对特定的无记名债券的投资利息豁免被废止
●有义务对不遵守该法规的账户持有者(拒绝披露信息的美国投资者和无适当FATCA文档的非美国投资者)、不加入FATCA的外国投资机构或不披露美国人持有超过一定水平权益的非金融外国实体预扣30%的美国预扣税
●所有直接或间接为美国人持有资产的年度报告

银行业面临的挑战是什么?

对一家银行来说,在执行FATCA时所面临的关键问题如下:
●进行战略分析,评估该银行是否继续保留对美国市场的投资( 包括自营和代客账户),保持与遵守FATCA法案的机构业务往来,或保有美国投资者账户
●分析不遵守FATCA的潜在影响和决定一种遵守策略
●测算实施可用时间。条款中的预扣和要求适用于2013年1月1 日起发生的支付。如果我们考虑到银行需要进行全面影响分 析,适用新的运营流程和对IT系统的显著变更的话,这是一个非常激进的期限
●满足FATCA附加文档的要求。在所有客户群中确定美国投资者
●决定保留或解除与美国客户的业务关系
●从所有美国客户中取得报告国税局的豁免

(kpmg.com/cn)

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FATCA FAQs: Frequently asked questions on the Foreign Account Tax Compliance Act
www.pwc.com

1.What is FATCA?

FATCA is an acronym for The Foreign Account Tax Compliance Act (FATCA) which was introduced in October 2009, but ultimately enacted as part of the Hiring Incentives to Restore Employment (HIRE) Act on March 18, 2010 (P.L. 111-147). FATCA creates a new tax information reporting and withholding regime for payments made to certain foreign financial institutions and other foreign persons. The provisions of FATCA have a staggered implementation timeline, with requirements initially affecting new accounts opened at US financial institutions beginning January 1, 2013.

2.What is the intent of FATCA?

FATCA is intended to increase transparency for the Internal Revenue Service (IRS) with respect to US persons that may be investing and earning income through non-US institutions. While the primary goal of FATCA is to gain information about US persons, FATCA imposes a withholding tax where the applicable documentation and reporting requirements are not met.

3.Does FATCA replace the existing US tax withholding and reporting regimes?

No. It does not replace the existing US tax withholding and reporting regimes. It does, however, add additional requirements and complexity to the existing regimes. The IRS has expressed its intent to eliminate duplicative reporting and withholding where possible.

4.Who does this legislation impact?

FATCA is far reaching and can impact any person, US or foreign, to the extent that such person is involved in making or receiving payments that fall within the scope of FATCA. While FATCA certainly affects US withholding agents and US multinational companies, the greatest impact will likely be to foreign financial institutions (FFIs).

5.What are the withholding requirements under FATCA?

In general, a withholding agent is required to withhold 30% on a withholdable payment made to a foreign financial institution (FFI) or to a non-financial foreign entity (NFFE), unless the FFI or NFFE meets certain requirements. In addition, an FFI must withhold 30% on any passthru payment it makes to a recalcitrant account holder, as well as any passthru payment it makes to another FFI unless that FFI meets certain requirements.

6.Who is a withholding agent?

A withholding agent is any US or non-US person (including an individual, corporation, partnership, trust, association, or any other entity) that has control, receipt, custody, disposal, or payment of any withholdable payment.

7.What types of payments will be subject to FATCA withholding?

FATCA withholding generally applies to two defined payment types: 1) Withholdable Payments and 2) Passthru Payments. However, FATCA withholding is not required with respect to any payment under, or gross proceeds from the disposition of, a grandfathered obligation.

8.What is a withholdable payment?

In the simplest of terms, a withholdable payment is a payment of either: US source income that is fixed or determinable, annual or periodical (FDAP) income; or gross proceeds from the sale or other disposition (including redemption) of property that can produce US source interest or dividend income.

For example: Interest income earned on a US Treasury bond is a withholdable payment, and the gross proceeds from the sale or other disposition of a US Treasury bond is a withholdable payment.

9.What is FDAP income?

FDAP income is fixed or determinable annual or periodical gains, profits, and income, and includes payments such as interest (including original issue discount), dividends, rents, salaries, wages, premiums, and annuities.

10. What is a passthru payment?

The definition of a passthru payment is very broad and includes any withholdable payment and any other payment to the extent it is attributable to a withholdable payment.

11. What is the purpose of the passthru payment concept in FATCA?

One primary purpose of the passthru payment concept is to prevent an FFI from being a “blocker” for US persons trying to avoid US tax by making indirect investments in US assets. It is also anticipated that foreign financial institutions will be incentivized to become participating FFIs in order to avoid excessive withholding on passthru payments.

12. What is a grandfathered obligation?

A grandfathered obligation is an obligation that is outstanding on March 18, 2012 (two years from the date that FATCA was enacted). Interest and gross proceeds from the sale or other disposition of a grandfathered obligation is exempt from FATCA withholding. Preliminary guidance indicates that a grandfathered obligation is defined as any legal agreement that produces or could produce passthru payments (including withholdable payments), but does not include any instrument that is treated as equity for US tax purposes, or any legal agreement that lacks a definitive expiration or term (for example, savings deposits, demand deposits, and other similar accounts are not grandfathered obligations because they lack a definitive term). In addition, a legal agreement that produces withholdable payments does not include brokerage, custodial and similar agreements to hold financial assets for the account of others and to make and receive payments of income and other amounts with respect to such assets. Finally, any material modification (which is determined based on the relevant facts and circumstances) to a grandfathered obligation will cause it to lose its grandfathered status.

An example of a grandfathered obligation is a US Treasury Bond that was outstanding on March 18, 2012, and that has not been materially modified after March 18, 2012.

13. Who is a recalcitrant account holder?

Generally, a recalcitrant account holder is any account holder that (1) fails to comply with reasonable requests for information necessary to determine if the account is held by a US person; (2) fails to provide the name, address, and TIN of each “specified United States person” and each substantial United States owner of a United States owned foreign entity; or (3) fails to provide a waiver of any foreign law that would prevent a foreign financial institution from reporting information required under FATCA.

14. What is a US person?

The term „„United States person‟‟ means:
●A citizen or resident of the United States.
●A domestic partnership.
●A domestic corporation.
●Any estate other than a foreign estate.
●Any trust if:
――A court within the United States is able to exercise primary supervision over the administration of the trust; and
――One or more United States persons have the authority to control all substantial decisions of the trust.
●Any other person that is not a foreign person.

15. Who is a specified US person?

A specified US person is any US person except for:
●A corporation whose stock is regularly traded on an established securities market (and any corporation which is a member of the same expanded affiliated group as a corporation whose stock is regularly traded on an established securities market);
●An entity that is exempt from US Federal income tax under the Internal Revenue Code (IRC) Section 501(a);
●An Individual Retirement Plan;
●The US government or any wholly owned agency or instrumentality of the US government;
●A state, the District of Columbia, a possession of the US, any political subdivision or wholly owned agency or instrumentality of a state, the District of Columbia or a possession of the US;
●Banks, real estate investment trusts (REITs) and regulated investment companies (RICs);
●A common trust fund (as defined in IRC Section 584(a)); and
●A trust that is exempt from federal tax under IRC Section 664(c), or that is defined in IRC Section 4947(a)(1).

16. How is an FFI defined under FATCA?

The definition of an FFI is very broad and is expected to encompass a number of entities generally not considered to be financial institutions. An FFI is any foreign entity that:
●Accepts deposits in the ordinary course of a banking or similar business;
●As a substantial portion of its business holds financial assets for the account of others; or
●Is engaged (or holding itself out as being engaged) primarily in the business of investing, reinvesting, or trading in securities, partnership interests, commodities, or any interest (including a futures or forward contract or option) in such securities, partnership interests, or commodities.

Accordingly, the term financial institution may include among other entities, investment vehicles such as hedge funds and private equity funds.

17. Are any foreign entities exempt from FATCA withholding on their income?

Yes. Certain foreign entities are exempt from FATCA withholding. The Statute provides that a withholding agent does not need to perform FATCA withholding on payments if the beneficial owner is:
●Any foreign government, any political subdivision of a foreign government, or any wholly owned agency or instrumentality of any one or more of the foregoing;
●Any international organization or any wholly owned agency or instrumentality thereof;
●Any foreign central bank of issue; or
●Any other class of persons identified by the IRS or US Department of the Treasury (US Treasury) as posing a low risk of tax evasion.

18. Other than the exemptions in the statute, are any other foreign entities expected to be excluded from being FFIs?

Yes. Preliminary guidance from the IRS and US Treasury indicates the following entities will not be FFIs, and will instead be treated as NFFEs. Treasury and IRS intend to exempt payments beneficially owned by these entities from FATCA withholding, but rules on how to qualify for these exemptions have not yet been provided:
●Certain holding companies – limited to entities whose primary purpose is to act as a holding company for a subsidiary or group of subsidiaries that primarily engage in a trade or business other than that of a “financial institution.”
●Start-up companies – applies to certain entities that invest capital into assets with the intent to operate a business other than that of a "financial institution," but is not yet operating the business. This exclusion only applies to the first 24 months after the entity‟s organization. After such time, a foreign entity will no longer qualify for this particular exclusion.
●Liquidation or Bankruptcy – non-financial entities that are liquidating or emerging from reorganization or bankruptcy. This exception only applies if the entity was not a financial institution before beginning the liquidation or reorganization process.
●Hedging or financing centers of a non-financial group – an entity that primarily engages in financing and hedging transactions with or for members of its expanded affiliated group that are not FFIs and that does not provide such services to non-affiliates, may only be excluded from the definition of a financial institution if the expanded affiliated group is primarily engaged in a non-financial institution business.
●Certain insurance companies – entities whose business consists solely of issuing insurance or reinsurance contracts without a cash value.

19. What is a financial account?

With respect to a financial institution, a financial account is:
●Any depository account maintained by the financial institution;
●Any custodial account maintained by the financial institution; and
●Any equity or debt interest in such financial institution (other than interests that are readily tradable on an established securities market).

20. What is a participating FFI?

An FFI that enters into a FFI agreement with the IRS is referred to as a “participating foreign financial institution” (PFFI). An FFI that does not enter into an agreement with the IRS is referred to as a “non-participating foreign financial institution” (NPFFI), and is subject to withholding under FATCA.

21. What does an FFI Agreement require an FFI to do?
An FFI Agreement is an agreement between the IRS and a FFI. Although the IRS has not yet made a version of the agreement available, it is expected that the provisions of the agreement will require an FFI to perform the following functions:
●Obtain information on account holders that is necessary to determine if accounts are US accounts;
●Comply with any required due diligence and verification procedures;
●Report information on US accounts;
●Deduct and withhold a 30% tax on “passthru payments” paid to account holders who do not provide the required information (“recalcitrant account holders”), or to another FFI that does not meet the requirements of Section 1471 (e.g., does not enter into an FFI agreement);
●Comply with IRS information requests; and
●Attempt to obtain from US accounts a waiver of applicable bank secrecy or other information disclosure limitations, and close the US accounts if a waiver is not obtained within a reasonable period of time.

22. When does an FFI need to enter into an agreement?

An FFI must enter into an agreement with the IRS by June 30, 2013, to ensure that it will be identified as a participating FFI in sufficient time to allow US withholding agents to refrain from FATCA withholding beginning on January 1, 2014. FFIs that enter into agreements before July 1, 2013 will be participating FFIs effective on July 1, 2013.

23. What is an FFI EIN?

In supplemental guidance, the IRS noted that each participating and deemed compliant FFI will be issued an employer identification number (FFI EIN) which will be used to identify the entity. Until the IRS begins issuing FFI EINs, withholding agents and participating FFIs will be able to rely on certifications provided by FFIs as to their status unless the withholding agent or participating FFI knows or has reason to know a certification is incorrect. The specifics for the certification and the issuance of FFI EINs are not yet available.

24. What is a deemed compliant FFI?

Certain FFIs will not be required to enter into an FFI Agreement with IRS in order to be exempt from FATCA withholding. These FFIs are referred to as deemed-compliant FFIs. These FFIs will be required to: (a) apply for deemed-compliant status with the IRS; (b) obtain an FFI EIN from the IRS; and (c) certify to the IRS every three years that they meet the requirements for deemed-compliant status.
Deemed-compliant status is reserved for a class of entities that Treasury has deemed to pose a low risk of tax evasion, such as certain local banks, local FFI members of participating FFI groups, and certain investment vehicles.

25. What is the definition of an NFFE?

An NFFE is a foreign entity that is not a financial institution.

26. Are all NFFEs subject to FATCA withholding?
FATCA withholding is not required on a payment to a NFFE if the payment is beneficially owned by:
●Any corporation whose stock is regularly traded on an established securities market;
●Any corporation that is a member of the same expanded affiliated group as a corporation whose stock is regularly traded on an established securities market;
●Any entity organized under the laws of a US possession and wholly owned by one or more bona fide residents of the possession;
●Any foreign government, any political subdivision of a foreign government, or any wholly owned agency or instrumentality of one or more of them;
●Any international organization or wholly owned agency or instrumentality of an international organization;
●Any foreign central bank of issue; and
●Any other class of persons identified by the IRS or US Treasury as posing a low risk of tax evasion.

27. What is a US owned foreign entity?

A “US owned foreign entity” is a foreign entity which has one or more substantial United States owners.

28. What is a substantial US owner?

Generally, a substantial US owners is a “specified US person” that owns more than 10% of the foreign financial institution, or any percentage greater than zero if the foreign financial institution is a collective investment vehicle (i.e. foreign private equity or hedge fund).

29. If an FFI does not hold any US investments, must it still enter into an FFI agreement with the IRS in order to avoid FATCA withholding?

Yes. A non-participating FFI that does not hold any direct US investments may still be subject to FATCA withholding if it receives passthru payments.

30. Are US branches of foreign entities excepted from the definition of an FFI?

No. While there is no such exemption, income that is effectively connected with a US trade or business is expected to be excluded from the definition of a withholdable payment. However, the exclusion does not apply to all payments made to an FFI‟s US branch (e.g., the exclusion does not apply to withholdable payments that a US branch of an FFI receives on behalf of its account holders, rather than for its own account).

31. Will controlled foreign corporations (CFCs) that are FFIs be treated as deemed compliant FFIs under FATCA?

No. The guidance requires CFCs (generally a non US corporation with a US shareholder that owns more than 50 percent of the total combined voting power of all classes of stock entitled to vote) that meet the definition of an FFI to become PFFIs by entering into an FFI agreement with the IRS. This is the case despite the fact that CFCs already have certain US tax withholding and reporting requirements as US payers.

32. What information must an FFI report to the IRS regarding US accounts?

Unless it elects to report as if it is a US person, a participating FFI must report certain information to the IRS with respect to US accounts it maintains. The extent to which reporting is required is also staggered, with simplified reporting on calendar year 2013 balances due on September 30, 2014 and full FATCA reporting beginning in calendar year 2014. Among the items expected to be reported for calendar year 2014 are:
●The name, address and US tax identification number (TIN) of each account holder that is a specified US person;
●In the case of any account holder that is a US owned foreign entity, the name, address and TIN of each substantial US owner of such entity;
●The account number;
●The year-end account balance or value; and
●Gross receipts and gross withdrawals or payments from the account.

33. What are “gross receipts and gross withdrawals or payments” in the case of depository accounts and custody accounts?

With respect to depository accounts and custody accounts, gross receipts and gross withdrawals means:
●The gross amount of dividends paid or credited to the account;
●The gross amount of interest paid or credited to the account;
●Other income paid or credited to the account; and
●Gross proceeds from the sale or redemption of property paid or credited to the account with respect to which the FFI acted as a custodian, broker, nominee, or otherwise as an agent for the account holder.

34. What are “gross receipts and gross withdrawals or payments” in the case of accounts that are not depository accounts and custody accounts?

With respect to accounts that are not depository accounts or custody accounts, gross receipts and gross withdrawals or payments means the gross amount of all distributions, interest, and similar amounts credited during the year and each redemption payment made during the year.

35. In addition to information regarding US accounts, is there other information that a participating FFI must report to the IRS?

An FFI also needs to report to the IRS annually:
●The number and aggregate value of financial accounts held by recalcitrant account holders;
●The number and aggregate value of financial accounts held by related or unrelated NPFFIs; and
●The number and aggregate value of financial accounts held by recalcitrant account holders that have US indicia.

36. What are the consequences of having an account that has “indicia” of US status?

If an account has indicia of US status, the FFI must obtain documentation to establish the status (US or non-US) of the account holder. If documentation is not obtained to establish that the account is not a US account, the FFI will be required to report the account to the IRS as either a US account or a recalcitrant account and may have to withhold FATCA tax on certain payments made to the account.

37. What are indicia of US status for accounts owned by individuals?

Generally, the following information is indicia of US status for an account owned by an individual:
●US citizenship or a lawful permanent US resident;
●US place of birth;
●Residence address or correspondence address in the US (including a US post office box);
●Standing instructions to transfer funds to an account maintained in the US or directions regularly received from a US address;
●An “in care of” or “hold mail” address that is the sole address with respect to the client; and
●Power of attorney or signature authority granted to a person with a US address.

38. How will the IRS ensure that participating FFIs complete the customer identification procedures for pre-existing individual accounts?

Although the entire process of auditing and validating that a participating FFI is in compliance is still unknown, the IRS has provided that a participating FFI‟s chief compliance officer or other equivalent-level officer (responsible officer) will be required to certify that the procedures for identifying pre- existing accounts have been completed. Treasury and the IRS intend to provide future guidance on the timing and specifics of these certifications.

39. With respect to an FFI, what is an expanded affiliated group?

Withholding, reporting, and other requirements imposed upon an FFI under FATCA will also apply to each other FFI which is a member of the same expanded affiliated group (FFI Group) that includes the FFI. For these purposes, the expanded affiliated group is determined in rules similar to the affiliated group concept under IRC Section 1504(a) except that "more than 50 percent" replaces "at least 80 percent" each place it appears. An expanded affiliated group includes partnerships, insurance companies and foreign corporations.

40. Does FATCA apply to FFI affiliates in an FFI group?

Treasury has indicated that regulations will require that each FFI affiliate in an FFI Group must be a PFFI or a deemed compliant FFI. Each FFI affiliate in the FFI Group that becomes a PFFI must execute an FFI Agreement with the IRS, and each PFFI will be responsible for its own due diligence, withholding, reporting, and return filing requirements under its FFI Agreement. In addition, each FFI affiliate will be issued its own FFI-EIN.

41. What is an NFFE required to do in order to avoid FATCA withholding?

In general, in order to avoid 30% FATCA withholding, an NFFE (other than an excepted NFFE) must provide the withholding agent with either:
●A certification that the NFFE does not have any substantial US owners (i.e., owners with a more than 10% interest); or
●The name, address, and US Taxpayer Identification Number (TIN) of each substantial US owner.
Where the NFFE provides information in regard to substantial US owners, the withholding agent must report that information to the IRS.

42. How will third party insurance or investment products be treated for FATCA?

Treasury and the IRS do not view the issuance of insurance or reinsurance contracts without cash value as posing a high risk of tax evasion. These would include, for example, most property and casualty insurance or reinsurance contracts or term life insurance contracts. Accordingly, Treasury and the IRS plan to issue regulations treating entities whose business consists solely of issuing such contracts as NFFEs.
However, other contracts such as life insurance (other than term life insurance contracts without cash value) or annuity contracts typically combining insurance protection with an investment component will require an insurance company to be treated as an FFI. Thus, such cash value insurance contracts or annuity contracts may present the risk of US tax evasion that FATCA is designed to prevent. Treasury and the IRS are considering the appropriate treatment of entities that issue cash value insurance contracts, annuity contracts, or similar arrangements.

43. Is a pension fund an FFI under FATCA?

Yes. A pension fund is a financial institution under FATCA. However, it is anticipated that pension funds may qualify for an exemption from FATCA as entities that pose a low risk of tax evasion. It is anticipated that a pension fund will be exempt from FATCA withholding if it meets the following criteria:
●Qualifies as a retirement plan under the laws of the country in which it is established;
●Is sponsored by a non-US employer; and
●Does not allow US participants or beneficiaries other than employees who worked for the non-US employer in the country in which the retirement plan is established during the period in which benefits accrued.

44. How will FATCA affect Qualified Intermediaries (QI), Foreign Withholding Partnerships (FWP), and Foreign Withholding Trusts (FWT)?

Treasury and the IRS have indicated that they intend to amend the QI, FWP and FWT agreements to require these FFIs to become participating or deemed-compliant FFIs. All qualified intermediary agreements, withholding foreign partnership agreements, and withholding foreign trust agreements of entities qualifying as FFIs that expire on December 31, 2012, will be automatically extended until December 31, 2013. Finally, any FFI that enters into an FFI Agreement on or before December 31, 2013, will be considered to have renewed its qualified intermediary agreement, withholding foreign partnership agreement, or withholding foreign trust agreement, as the case may be.

45. When will final regulations be issued?

The timing of when final regulations will be issued is not clear at this point. FATCA legislation was enacted on March 18, 2010; the legislation itself was in some respects merely directional guidance for Treasury to develop the detailed FATCA rules via regulations. To date, no regulations have been issued.
However, there has been guidance issued by Treasury and the IRS in the form of three notices –
●Notice 2010-60 which is generally referred to as preliminary guidance;
●Notice 2011-34 which is generally referred to as supplemental guidance; and
●Notice 2011-53 which is generally referred to as the Chapter 4 implementation notice.
These notices do not address all of the open issues, and in some cases, raise additional questions.
Treasury and the IRS anticipate issuing proposed regulations by the end of 2011 and final regulations by the summer of 2012. Treasury and the IRS also anticipate issuing draft versions followed by final versions of an FFI agreement and reporting forms for use by withholding agents and participating FFIs in the summer of 2012.

46. When does FATCA withholding begin?

FATCA withholding on US source fixed or determinable, annual or periodical (FDAP) income will generally begin on January 1, 2014; however, FATCA withholding on other passthru payments and gross proceeds from the disposition of securities that could produce US source interest or dividends will be effective on January 1, 2015.

47. Is there any chance that FATCA will be repealed or get postponed?

It is not likely that FATCA will be repealed. However, Treasury and IRS have stated that will continue to work closely with businesses and foreign governments to implement FATCA effectively.

For more information, please contact:

Dominick Dell’Imperio
646 471 2386
[email protected]

Jon Lakritz
646 471 2259
[email protected]

Rob Limerick
646 471 7012
[email protected]

Candace Ewell
202 312 7694
[email protected]

This document has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers LLP, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

© 2011 PwC. All rights reserved. “PwC” and “PwC US” refer to PricewaterhouseCoopers LLP, a Delaware limited liability partnership, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.

Solicitation.

This document is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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