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Understanding FATCA: Key Definitions and Withholding Agents

This document provides critical insights into the Foreign Account Tax Compliance Act (FATCA), detailing essential definitions, including entities considered withholding agents. It clarifies the scope of "the United States" in the context of FATCA, covering various governmental levels and financial institutions. It also emphasizes the responsibilities of persons acting in capacities affecting withholdable payments. For stakeholders navigating FATCA compliance, understanding these definitions is fundamental to mitigate risks and ensure adherence to federal regulations.

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Understanding FATCA: Key Definitions and Withholding Agents

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    2. Shareholder, Greenberg Traurig Carl A. Fornaris

    3. FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA)

    17. Important Definitions Cont. (iii) the United States or any wholly owned agency or instrumentality thereof, and any State, the District of Columbia, any possession of the United States, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing; (iv) any bank, any REIT, any RIC, any tax exempt trust, among others. - Withholding agent means all persons, in whatever capacity acting, having the control, receipt, custody, disposal, or payment of any withholdable payment.

    26. Questions and Answers

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