IRS announces the launch of a new Qualified Intermediary system
16 December 2016
On 15 December 2016, the US Internal Revenue Service (‘IRS’) announced that Qualified Intermediary (‘QI’), Withholding Foreign Partnership (‘WP’) and Withholding Foreign Trust (‘WT’) questions will be removed from its FATCA Online Registration System.
It is intended that a new QI, WP and WT system will be launched in 2017 for such entities to apply for and manage their information online. Accordingly, the QI, WP and WT related questions will be included in this new dedicated system.
Additional information on the updates to the FATCA Online Registration System is available via the FATCA Online Registration user guide. A new QI/WP/WT user guide will be available on the IRS website upon launch.
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