FATCA applies to all foreign financial and non-financial operating entities. This means that FATCA has an impact on all non-US entities receiving payments from the US source, directly or indirectly.

Also, US entities, financial or non-financial, that make payments to foreign entities, are subject to the new FATCA rules, and must therefore make a formal commitment to the IRS, maintain documentation about these foreign entities and determine their classification within the framework of FATCA.



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