FATCA News & Information

Internal Revenue Service (IRS) sent this bulletin at 08/24/2023 03:39 PM EDT

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August 24, 2023

Issue Number: 2023-03

The IRS Updates FAQ 23 on the FATCA - FAQs General Page

The IRS updated FAQ 23 (Q23) on the FATCA - FAQs General webpage, under the section, General Compliance, extending penalty relief for the 2022, 2023, and 2024 calendar years in situations where a withholding agent withholds and reports on Forms 1042 and 1042-S by September 15 of the applicable year. The penalty relief will apply with respect to dividend equivalent payments made with respect to a derivative referencing a partnership.

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Issue Number: 2023-03