Time is running out for the 2014 Form W-8BEN-E

Time is running out for the 2014 Form W-8BEN-E

Back in April, the IRS issued a revised version of Form W-8BEN-E, which is used by non-US entities to report (among other things) their Identity and IRC Chapter 3 & 4 status to withholding agents. Regulations permit withholding agents to accept prior versions of...
Some Basic Responsibilities for a Responsible Officer

Some Basic Responsibilities for a Responsible Officer

Being a QI and Responsible Officer is not just about signing a bit of paper and filing this away….it is an on-going and ever developing regime. The ever-developing nature of the IRC Chapter 3 (QI regime), FATCA and now CRS & AEoI (informally know as GATCA)...
The Impact of Failing to Report Correctly

The Impact of Failing to Report Correctly

In this episode, your host Ross McGill brings you an overview of developments in the global regulatory landscape. We look at the changes in the penalties issued by the IRS for failure to report, how globally standardised issuing of documentation can be beneficial to...
Tax Reporting Does ACTUALLY Matter

Tax Reporting Does ACTUALLY Matter

Regulation… regulation… sorry, what’s that? More regulation? You think that tax evaders get away with it? Or that your reports as a Foreign Financial Institution (FFI) are not monitored? Well, think again! FATCA and now CRS together with the...
Go To Jail Free Card

Go To Jail Free Card

One of the most frequent excuses for NQIs not complying with reporting obligations, over and above lack of awareness, has always been the failure of the IRS to penalise firms for problems in filing. I thought the community should be aware that we are now starting to...