Impact of FATCA Proposed Regulations on Investment Funds
February 17, 2012
Last week, Treasury released proposed regulations implementing the Internal Revenue Code sections commonly known as “FATCA”. The proposed regulations would impose reporting and withholding obligations on foreign financial institutions (or "FFIs"), which would generally include foreign private equity funds, hedge funds, and similar investment funds. This Alert Memo summarizes certain practical implications of the proposed regulations on such investment funds.