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TREAS/IRS RIN: 1545-BL96 Publication ID: Spring 2014 
Title: ●Regulations Relating to Verification Requirements of Sponsoring Entities for Chapter 4 Withholding Purposes 
Abstract: This proposed regulation provides additions to final regulations issued under chapter 4 of Subtitle A (sections 1471 through 1474) of the Internal Revenue Code of 1986, commonly known as the Foreign Account Tax Compliance Act, or FATCA. In Treasury Decision 9610 (78 FR 5874), the Treasury Department (Treasury) and the IRS issued final regulations under chapter 4 regarding reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding on payments to FFIs and other foreign persons. The final regulations issued in TD 9610 affect persons making certain U.S.-related payments to FFIs and other foreign entities and payments by FFIs to other persons. The IRS and Treasury are issuing this Notice of Proposed Rulemaking to add new verification requirements for FFIs that are "sponsoring entities" that perform Chapter 4 obligations on behalf of other "sponsored" FFIs or Non-Financial Foreign Entities (NFFEs). 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.1471-4; 26 CFR 1.1471-5; 26 CFR 1.1472-1 
Legal Authority: 26 USC 1471; 26 USC 1472 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  06/00/2014   
Additional Information: REG-103477-14 Drafting attorney: Brad McCormack (202) 317-6942 Reviewing attorney: Diana Imholtz (202) 317-6942 Treasury attorney: Brett York (202) 622-1285 CC:INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Federal 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Brad McCormack
Attorney-Advisor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-6942
Email: brad.mccormack@irscounsel.treas.gov

 
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