Publications and Presentations
April 15, 2014

FATCA Compliance for Entities Issuing Collateralized Loan/Debt Obligations

Summary: The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 to prevent US federal income tax evasion by policing offshore investments, accounts and trust interests held by certain US persons. Recently, the US Internal Revenue Service has issued FATCA guidance providing limited relief for certain entities that issue notes secured by loans or debt securities. CLOs that do not qualify for this relief remain subject to FATCA’s general rules.

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