Source: https://haydonperryman.com/terms-and-definitions/withholding-agent/
Timestamp: 2019-04-25 03:50:48+00:00

Document:
Withholding agent | FATCA & CRS Training. Advice. Consultancy.
Except as provided in this paragraph (d), the term withholding agent means any person, U.S. or foreign, in whatever capacity acting, that has the control, receipt, custody, disposal, or payment of a withholdable payment or foreign passthru payment.
The term withholding agent includes a participating FFI that has the control, receipt, custody, disposal, or payment of a passthru payment (as defined in §1.1471-5(h)). The term withholding agent also includes a registered deemed-compliant FFI to the extent that such FFI is required to withhold on a passthru payment as part of the conditions for maintaining its status as a deemed-compliant FFI under §1.1471-5(f)(1)(ii). For the withholding requirements of a participating FFI, including the requirement to withhold with respect to limited branches and limited FFIs that are in the same expanded affiliated group as the participating FFI, see §§1.1471-4(b) and 1.1472-1(a).
The term withholding agent includes a grantor trust with respect to a withholdable payment or a foreign passthru payment (in the case of a grantor trust that is a participating FFI) made to a person treated as an owner of the trust under sections 671 through 679. For purposes of determining when a payment is treated as made to such a person, see §1.1473-1(a)(5)(v).
See §1.1474-1(b) for a withholding agent’s requirement to deposit any tax withheld, and §1.1474-1(c) and (d) for the requirement to file income tax and information returns (including the special allowance in §1.1474-1(b)(2) for participating FFIs with respect to dormant accounts).
When several persons qualify as a withholding agent with respect to a single payment, only one tax is required to be withheld and deposited. See §1.1474-1(a). A person who, as a nominee described in §1.6031(c)-1T, has furnished to a partnership all of the information required to be furnished under §1.6031(c)-1T(a) shall not be treated as a withholding agent if the person has notified the partnership that it is treating the provision of information to the partnership as a discharge of its obligations as a withholding agent.
An individual is not a withholding agent with respect to a withholdable payment made by the individual outside the course of such individual’s trade or business (including as an agent with respect to making or receiving such payment).

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