Qualified Intermediaries News

Qualified Intermediaries News January 20, 2023
Corporations Topics LB&I At-a-Glance LBI Directive De-coordinating All Issue Papers Industry Director Guidance Code, Regs., IRB IRS Resources Contact My Local Office Filing Options Forms & Instructions Frequently Asked Questions News Taxpayer Advocate Service Where to File	Issue Number:    2023-01 ALERT: QI Agreement Renewal Link and Due Date Extension Rev. Proc. 2022-43 (which includes the 2023 QI Agreement) provides that a QI that seeks to renew its QI agreement with an effective date of January 1, 2023, must do so between January 1, 2023, and March 31, 2023. The IRS is extending the due date for QIs to renew their QI agreements under Rev. Proc. 2022-43 to May 1, 2023. Accordingly, a QI that seeks to renew its QI agreement with an effective date of January 1, 2023, must do so through the Qualified Intermediary Application and Account Management System (QAAMS) by May 1, 2023. We are aware the renewal link is not available for some QIs on QAAMS. We are working to get the link restored and will provide an update as soon as we have further information. Withholding Foreign Partnerships (WPs) and Withholding Foreign Trusts (WTs) are not required to submit requests to renew their WP/WT agreements at this time. The IRS will treat existing WP/WT agreements as remaining in effect until December 31, 2023. 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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