Canada - English

Details

  • Industry: Financial Services, Insurance
  • Type: Regulatory update
  • Date: 12/6/2012

FATCA: Challenges and insights for insurance companies 

While the regulations for the Foreign Account Tax Compliance Act (FATCA) are in proposed form, they do provide sufficient guidance to assist affected organizations in developing strategic and operational plans to help ensure FATCA compliance by the phased-in effective dates, which begin July 1, 2013 (July 1, 2012 for foreign financial institutions).
This US paper highlights how the regulators now accelerate the need for both US and non-US insurance companies to move quickly to assess the potential impact of FATCA's requirements and take steps to comply with them.
 

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Lucy Iacovelli

Lucy Iacovelli

Partner, Tax

416-777-3820

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