Friday, February 17, 2017

QI, WP, and WT Renewal and New Application Reminder Alert

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Qualified Intermediaries News February 17, 2017

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Issue Number:    2017-05

Inside This Issue

  1. QI, WP, and WT Renewal and New Application Reminder Alert

  1.  QI, WP, and WT Renewal and New Application Reminder Alert

The Internal Revenue Service (IRS) has opened the Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and Withholding Foreign Trust (WT) Application and Account Management System (QI/WP/WT System) to create a more efficient and user-friendly method of applying for, as well as renewing and terminating, QI/WP/WT agreements. 

The deadline for all agreement renewals is March 31, 2017.  All QI/WP/WT agreements in effect prior to January 1, 2017 must be renewed by March 31, 2017 to continue in effect without interruption.  It is important that a QI/WP/WT begin its renewal process as soon as possible.

All renewals and new applications must be completed and submitted using the new QI application and account management system.  All new QI/WP/WT applicants, as well as renewing QI/WP/WT applicants, should review the system User Guide and FAQ's on the QI website before proceeding.

Additional information, including the User Guide and FAQs, can be found on the QI/WP/WT System.

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