IRS Issues Extension for QI/WP/WT Agreement Renewals (and QDD Applicants) Due Date

Qualified Intermediaries News March 31, 2017

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Inside This Issue IRS Issues Extension for QI/WP/WT Agreement Renewals (and QDD Applicants) Due Date   1.  IRS Issues Extension for QI/WP/WT Agreement Renewals (and QDD Applicants) Due Date The deadline of 3/31/17 for submitting a qualified intermediary (QI)/ foreign withholding partnership (WP)/foreign withholding trust (WT) request for renewal as well as for submitting a new application is fast approaching. In order to allow time for these entities to become better acquainted with the new Qualified Intermediary, Withholding Foreign Partnership, and Withholding Foreign Trust Application and Account Management System (QI/WP/WT System), as well as to gather all information necessary to prepare and submit a renewal application, the Internal Revenue Service will grant an Effective Date of 1/1/17 for all properly submitted and approved renewal applications, including renewals containing a request for qualified derivatives dealer (QDD) status, submitted by 5/31/17.  Additionally, because a QDD is a new entity type, all  new QI Applications  that also contain a request for QDD status submitted  by 5/31/17 that are approved will be granted an Effective Date of 1/1/17. For new withholding foreign partnerships, new withholding foreign trusts, and new QIs that are not applying for QDD status, the 3/31/17 new application deadline for a 1/1/17 Effective Date is still in effect.  Back to Top Thank you for subscribing to the Qualified Intermediaries e-mail list, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the Qualified Intermediaries mailing list. Please Do Not Reply To This Message. To subscribe to or unsubscribe from another list, please go to the Main Subscription Page on the IRS.gov web site.

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