RP-2019-23: Implementation of Nonresident Alien Deposit Interest Regulations

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IRS GuideWire August 23, 2019

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Issue Number:    RP-2019-23

Inside This Issue

Revenue Procedure 2019-23 adds one country – Georgia – to the list of countries with which the United States has in force an information exchange agreement such that interest paid to residents of such jurisdictions must be reported by payors to the extent required under Treas. Reg. §§1.6049-8(a) and 1.6049-4(b)(5).  This revenue procedure also adds two jurisdictions – Curaçao and Cyprus -- to the list of jurisdictions with which Treasury and the IRS have determined that it is appropriate to have an automatic exchange relationship with respect to bank deposit interest income information under those regulatory provisions.

Revenue Procedure 2019-23 will appear in IRB 2019-38 and will publish on Monday 9/16/19. See revised Media form attached.

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