IRS Publishes FAQs for FFI Agreement Renewal

Tom Hospod
July 7, 2017

This blog was last updated on March 11, 2019

The IRS has published Frequently Asked Questions regarding the FFI agreement renewal. The deadline for the renewal is July 31, 2017, and the obligation to renew applies to Participating FFIs not covered by an IGA, Reporting FFIs under a Model 2 IGA, and Registered Deemed-Compliant FFIs that are Reporting FFIs under a Model 1 IGA operating branches outside of Model 1 jurisdictions. The FAQs address a number of scenarios that FFIs may encounter in the registration and renewal process and provide details and instructions that are not covered within the registration publications.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

By checking the above box, you are consenting to Sovos’ privacy policy and electing to receive more information from us. Our goal here is not to bombard you with communications, but to provide you with specific information regarding our services that is most helpful to you. You may opt out at any time. Click here for more information.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Author

Tom Hospod

Tom Hospod is a Regulatory Counsel at Sovos Compliance. Within Sovos’ Regulatory Analysis function, Tom focuses om Affordable Care Act (ACA) reporting, Tax Withholding, and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.
Share this post

Climate Related Events Insurance Premium IPT
EMEA IPT
July 18, 2024
The Impact of Climate-Related Events on Insurance Premium Tax (IPT)

Climate related events impact all industries; the insurance industry is no exception. Here’s how it’s affecting Insurance Premium Tax.

North America VAT & Fiscal Reporting
April 3, 2025
The Rise of Pre-filled Returns in Greece

This blog was last updated on April 3, 2025 As governments worldwide continue to shift to Continuous Transaction Controls (CTC) systems, such as e-invoicing and real-time e-reporting, another trend organically unfolds as part of this move towards tax digitisation: pre-filled returns. With access to real-time transactional level data – and other types of data, such […]