IRS Issues Instructions for Revised Form W-8IMY

On June 19, 2014, the IRS issued instructions for Form W-8IMY ("Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting"). The form is used by foreign intermediaries and flow-through entities to certify their status under FATCA. Form W-8IMY was revised in April 2014 to reflect additional information needed with respect to FATCA, but instructions for use of the form were not issued at that time. Instructions for Form W-BEN-E, the form used for non-U.S. entities to certify their FATCA status, have yet to be issued, even though FATCA implementation begins on July 1, 2014.

See: Form W-8IMY; Instructions for Form W-8IMY.See also: Cabinet FATCA Materials (for Cabinet subscribers only). For more information, please contact Daniel Mulcahy and Mark Howe.