Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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FATCA Deadlines Approaching for Sponsors of Non-U.S. Retirement Plans
Winston & Strawn LLP Apr. 8, 2014 "If a plan that is required to register as a [Foreign Financial Institution (FFI)] fails to so register or otherwise fails to comply with its reporting and withholding obligations under FATCA, the plan will be subject to a 30% withholding tax on any US source income paid to the plan. 'US source income' would include any income earned from assets invested in US-based stocks, bonds, mutual funds, or other investment vehicles.... [N]ot all non-US retirement plans will qualify as FFIs, as there are several useful exemptions available. However, in order to take advantage of any exemption, the plan must affirmatively claim it through the filing of a Form W-8BEN-E[.]" |
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