Tue, Apr 23, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

IRS proposes regulations on FATCA withholding and reporting
Thursday, April 26, 2012

Bailey McCann, Opalesque New York: The IRS has released new proposed regulations for several sections of the US Foreign Account Tax Compliance Act (FATCA), the international tax collection legislation recently passed in the US. The bill itself was passed as a shell bill to allow appropriate regulatory authorities time to build out the details of the regulation after taking in industry feedback. The latest draft of proposed regulations cover a number of areas that industry participants have asked for clarification on.

New York-based law firm, Shulte, Roth & Zabel LLP has issued a brief overview today of the proposed regulations with some additional legal commentary. Attorneys write that investment managers should already begin the FATCA compliance process by identifying their investors and counterparties as required by FATCA.

Under FATCA, hedge funds, fund of funds and other firms primarily focused on the business of investing are considered 'financial institutions' and subject to the regulation. This also includes offshore funds and funds located in jurisdictions where the US maintains mutual tax agreements, if those fund......................

To view our full article Click here
Article link
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1

Click here for More about Opalesque Tracking
- A new, unique Premium Service -
  1. marshall
  2. schonfeld
  3. brevan
  4. point72
  5. millennium
  1. mortgage fund
  2. 1
  3. ids capital
  4. Ospraie
  5. separately Managed Accounts