The Internal Revenue Service has issued an updated Qualified Intermediary Agreement for foreign banks that have been approved to withhold funds from a client’s bank account to be paid to the IRS.

The new QI Agreement was released in accordance with the Foreign Account Tax Compliance Act and has been posted to the FATCA Web site in Revenue Procedure 2014-39, which updates and supersedes the QI Agreement that was originally released in 2000.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access