Update on FATCA for Non-US Retirement Plans – December 2013

Non-US retirement plans should start planning for the application of the Foreign Account Tax Compliance Act (FATCA), which will begin to impose 30% withholding on most interest and dividends paid by US payors to non-US retirement funds beginning July 1, 2014, unless such plans meet certain exemptions. Our review of the current status of the impact of FATCA on non-US retirement plans, and what plans can do to prepare for FATCA, can be found in the attached memo.