The IRS Issues New FAQ for QIs

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Qualified Intermediaries News June 5, 2024

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Issue Number:    2024-15

The IRS Issues New FAQ for QIs

The IRS issues FAQ Q3 on the QI/WP/WT FAQs page under the section, Provisions for 2023 QI agreement. This FAQ provides guidance to QIs acting as intermediaries for payments of substitute dividends and clarifies whether such QIs are required to assume primary withholding responsibilities for all such payments they receive and pay as an intermediary.

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