On 24 October 2012, Treasury and the IRS issued Announcement 2012-42, the latest in a series of guidance items related to the Foreign Account Tax Compliance Act (FATCA) generally extends the timelines provided in the proposed regulations for withholding agents and foreign financial institutions (FFIs), to complete due diligence and other requirements related to FATCA, provides extended timelines for gross proceeds withholding, and expands the definition of obligations that will be considered grandfathered for purposes of the FATCA provisions. This announcement along with the voluminous proposed regulations for FATCA that were released on 8 February 2012 contains many crucial details that will allow asset managers to accelerate their preparations to meet the 2014 extended deadline.

During this presentation Ernst & Young will explore how these reporting requirements are reshaping the industry, how the IGA protocol and the announcement that the U.S. Treasury is currently engaged with 50 countries around the world may impact how fund managers cope with FATCA compliance.

So, register your attendance now!

*Please note the change in timing for this Talk.

A light lunch will be provided at 11.30am. The Talk will start at 12.00pm sharp.

This Talk is exclusive to IMAS members only. If you would like to attend this IMAS Lunchtime Talk, please register with us at replies@imas.org.sg.

Due to seating constraints, registrations will be on a first-come, first-served basis, subject to two (02) registrations per company.

Please click here to view the presentation slides.