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FATCA Resource List

FATCA requires foreign financial companies to tell the IRS about U.S. taxpayers with foreign accounts. The IRS has been slowly forcing foreign banks to provide information about U.S. clients when requested. Now all foreign financial institutions must routinely report U.S. investments to the IRS.

The reporting requirements are substantial and they concern not just foreign banks. Now foreign brokers, foreign mutual funds and foreign hedge funds must report their U.S. customers to the IRS.

Information concerning FATCA is available from the following resources:

General Information for the Public

http://www.irs.gov/Businesses/Corporations/FATCA-Information-for-Individuals

http://www.irs.gov/Businesses/Corporations/Summary-of-FATCA-Reporting-for-U.S.-Taxpayers

http://www.irs.gov/Businesses/Comparison-of-Form-8938-and-FBAR-Requirements

http://www.irs.gov/Businesses/Corporations/Basic-Questions-and-Answers-on-Form-8938

http://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA.aspx

Technical Resource

Internal Revenue Code, of 1986, as amended, Section 6038D Information With Respect to Foreign Financial Assets.

T.D 9706, 2014-53 I.R.B. 980 (December 11, 2014). Preamble and Final Regulations under section 6038D of the Code.

IRS Notice 2013-10, provides that domestic entities will not be required to report specific foreign financial assets before the date specified in final regulations under section 6036D, which will modify the effective date of Prop. Reg 1.6038D-6. T.D. 9706 did not finalize the regulations relating to the reporting of domestic entities, so reporting is not yet required.

T.D. 9567, 2012-1 C.B. 395 (December 19, 2011). Temporary regulations under section 6036D.

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Oded Hecht
23-03-2018
Very good experience. I had some uncommon and large financial situations abroad as a US Citizen. I just wanted to make sure I am going about it legally and wisely. I am a business executive (Harvard B. School), having interacted with many top lawyers worldwide, and working with Paul was a pleasure and a wise choice. Beyond helping me professionally to solidify a winning strategy through his sound knowledge and experience, the interaction was exceptionally forthcoming and pleasant. I would recommend Paul without any hesitation!
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Maria Alexander
04-04-2018
Paul is an excellent attorney for small business owners like myself. He will make the appropriate research and make sure that the documents I have are all in working order and official. Paul always responds to phone my calls immediately, and he works fast whenever I need to have documents prepared quickly. His knowledge has helped me steer my business in the right direction and his advice is always on point and concise. I’ve had the pleasure of using Paul’s services for nearly a decade. During this time I had help with drafting and reviewing the following: several lease contracts, employee contracts, confidentiality and non-disclosure agreements, new client contract/liability waivers, US copyright electronic registrations, independent contractor agreements, website disclosure language, video release forms, and business registrations with the state. Having Paul as an attorney and being able to reach out to him whenever I have an emergency makes me more confident to run my business and I know that if I have a legal problem Paul will be there to help me.
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mathew gajewski
25-03-2018
Cool guy, extremely nice and knows his stuff.
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Dan Trolaro
16-10-2017
Took the time to listen, ask good questions, and provide good thoughts during initial phone call. Highly recommend giving him a call.
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Bill
07-08-2017
Mr. Wigg-Maxwell helped me out with a complicated international inheritance tax question. He was quick to respond with a knowledgeable answer. I would happily bring any future tax issues I have to Mr. Wigg-Maxwell for resolution.
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