IRS Announcements regarding QI Certifications

On 22 February 2018, the Internal Revenue Service (“IRS”) announced that the QI/WP/WT application and account management system will be open to accept QI/WP/WT certifications beginning in early April.

Additionally, the IRS announced extended deadlines for the certifications as follows:

  • For QIs that choose 2015 or 2016 for the periodic review, the IRS will permit an extension of the original deadline from 1 July 2018 to 1 September 2018
  • For QIs that qualify for a waiver from the periodic review, the IRS will permit an extension of the original deadline from 1 July 2018 to 1 September 2018
  • For QIs that choose 2017 for the periodic review, the IRS will permit an extension of the original deadline from 31 December 2018 to 1 March 2019

All QIs/WPs/WTs will receive an announcement on their message board that the QI/WP/WT account management system will open in early April.

FAQs are available on the IRS website to support users in managing the system.

Contact

Melanie Taosuwan
+41 58 792 4249
melanie.taosuwan@ch.pwc.com

Published by

Melanie Taosuwan

Melanie Taosuwan

melanie.taosuwan@ch.pwc.com

Melanie Taosuwan is a Tax Director in the Financial Services practice at PwC. Melanie is the Swiss FATCA, QI and Section 871(m) Knowledge Manager and has more than five years of experience in supporting and advising Swiss financial institutions on these topics.