Fox Rothschild LLP Partner Matthew D. Lee authored an updated version of the Foreign Account Tax Compliance Act Answer Book, which provides a detailed analysis of FATCA and the requirements it imposes on foreign financial institutions (FFIs) to disclose annually information about accounts held by U.S. citizens and residents, or foreign companies in which U.S. individuals hold a substantial ownership interest.
Originally published in 2015, the newest question-and-answer guide provides updates on Intergovernmental Agreements, FFI Agreement renewals, and FATCA compliance certifications. In addition to several appendix updates, the new version also analyzes new Internal Revenue Service guidance on establishing acceptable compliance programs and FFI registration requirements.
Lee is a former U.S. Department of Justice trial attorney who serves as Co-Chair of the firm’s White-Collar Criminal Defense & Regulatory Compliance Practice. He handles all aspects of white-collar criminal defense, federal tax controversies, financial institution regulatory compliance and complex civil litigation.