© 2018 by Hansuke Consulting Limited

 

Hansuke Consulting Limited is registered in England and Wales number 10136213 with its registered office at: 71-75 Shelton Street, London WC2H 9JQ. Hansuke Consulting Limited is an accredited and regulated member firm of the Institute of Chartered Accountants in England and Wales (ICAEW).

 

In accordance with the disclosure requirements of the Provision of Services Regulations 2009, our professional indemnity insurer is International General Insurance Co (UK) Limited, of 133 Houndsditch London EC3A 7AH. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.

Alerts

FATCA Online System Update: Discontinuation of FATCA Classification of Limited Conditional Status

Contact us

Ali Kazimi

Managing Director

alikazimi@hansuke.co.uk

Tel: +44 (0) 203 865 0626

16 December 2016

When registering after 31 December 2016, users of the FATCA Online Registration system should no longer select the limited conditional classification option. Similarly, limited branch status will no longer be valid. At this time, all new and existing limited conditional and limited branch registrations will be placed in “registration incomplete” status.

 

Once limited conditional status expires, participating FIs and registered deemed-compliant FIs (other than FIs covered by an IGA) that are in an expanded affiliated group with a Limited Financial Institution will no longer be able to obtain or retain their statuses. Moreover, participating FIs (other than FIs covered by an IGA) that have limited branches, and any branches of the FI (other than branches covered by an IGA) that have participating FI status, will no longer be able to obtain or retain their statuses.

 

Please note that although the option will remain in the system until mid2017, it will no longer be valid after Dec. 31, 2016.

 

Additional information on limited conditional status is available at FATCA Frequently Asked Questions.

Colleen Waddell

Senior Principal colleenwaddell@hansuke.co.uk

This publication has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and we recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this publication. Hansuke Consulting Limited would be pleased to advise readers on how to apply the principles set out in this publication to their specific circumstances. Hansuke Consulting Limited accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication.