FATCA Extension Announced
The IRS has just announced that the April 25th deadline for fund managers to register their offshore funds and offshore master funds with the IRS and obtain Global Intermediary Identification Numbers (“GIINs”) has been extended to May 5th. Obtaining a GIIN by May 5, 2014, will allow a fund to avoid withholding under FATCA.
IRS CIRCULAR 230 NOTICE. Tax advice, if any, included in this communication (including any attachments) is not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or by any other governmental tax authority. For more information about Circular 230, see www.kkwc.com/docs/circular230memo.pdf.