Foreign Account Tax Compliance Act ("FATCA"):
FATCA regulations require Foreign Financial Institutions ("FFIs") to identify and disclose direct and indirect U.S. investors and withhold U.S. income tax on non-resident aliens and foreign corporations. FFIs include hedge funds, fund of funds, commodity pools and other offshore investment vehicles. FFIs are required to enter into agreements with IRS using their online portal registration which will be available by July 15, 2013. FFIs opting not to comply with FATCA regulations will be subject to a 30% FATCA tax. Fund managers should consider updating the Fund documents to include FATCA disclosures and representations. For more information of FATCA regulations, please visit http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-(FATCA).
M.D. Hall & Company Inc. is a certified public accounting firm that provides auditing and other attestation services to domestic hedge funds, offshore hedge funds , fund of funds, broker-dealers and management companies M.D Hall & Company Inc is registered with PCAOB ("Public Company Accounting Oversight Board") and AICPA ("American Institute of Certified Public Accountants"). For more information on hedge funds, hedge fund start up and our services, please visit us at www.mdhallco.com
M.D. Hall & Company Inc.
2121 N. California Blvd. Suite 290
Walnut Creek, CA 94596
(925) 974 3585
Maria Hall: maria@mdhallco.com
Daniel Hall: dan@mdhallco.com
This information has been prepared by M.D. Hall & Company Inc for general information purposes only and does not constitute legal advice or opinion on specific facts or circumstances. U.S. Treasury Circular 230 Notice: As required by U.S. Treasury Regulations governing tax practice, you are hereby advised that any written tax advice contained herein should not to be used, and cannot be used, by the recipient for the avoidance of penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.
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