rp-16-18.pdf

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26 CFR 1.6049.00-00: Returns Relating to Payments of Interest
(Also: 1.3406.07-00 Exceptions to Backup Withholding)

March 2016 Supplement to Rev. Proc. 2014-64, Implementation of Nonresident Alie n
Deposit Interest Regulations

Rev. Proc. 2016-18

SECTION 1. PURPOSE

This revenue procedure supplements the listing in Revenue Procedure 2014-
64, 2014-53 I.R.B. 1022, as previously supplemented by Rev. Proc. 2015-50, 2015-
42 I.R.B. 583, of the countries with which the Department of the Treasury (Treasury
Department) and the Internal Revenue Service (IRS) have determined that it is
appropriate to have an automatic exchange relationship with resp ect to the
information co lle cted under §§1.6049-4(b)(5) and 1.6049-8 of the Inco me Tax
Regulations.
SECTION 2. BACKGROUND

Secti ons 1.6049-4(b)(5) and 1.6049-8(a), as revised by TD 9584, require the
reporting of certain deposit interest paid to nonresident alie n individuals on or after
January 1, 2013. Rev. Proc. 2012-24, 2012-20 I.R.B. 913, was published

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contemporaneously with the publication of TD 9584. Section 4 of that revenue
procedure identified the co untries with which the Treasury Department and the IRS
had determined that it was appropriate to have an automatic exchange relationship
with resp ect to the information colle cted under §§1.6049-4(b)(5) and 1.6049-8. Rev.
Proc. 2012-24 was updated and superseded by Rev. Proc. 2014-64, Section 4 of
which contained an updated list of countries with which an automatic exchange
relationship had been determined appropriate. Rev. Proc. 2014-64 was
supplemented by Rev. Proc. 2015-50, which added 16 countries to that list. This
revenue proce dure further supplements Rev. Proc. 2014-64 by adding three countries
(Azerbaijan, Jamaica, and the Slovak Republic) to the list of countries in Section 4 of
Rev. Proc. 2014-64.
SECTION 3. SUPPLEMENT TO REV. PROC. 2014-64

Section 4 of Rev. Proc. 2014-64, as supplemented by Rev. Proc. 2015-50, is
further supplemented to read as follows:
The following list identifies the countries with which the automatic exchange of
the information collected under §§1.6049-4(b)(5) and 1.6049-8 has been determined
by the Treasury Department and the IRS to be appropriate:
Australia
Azerbaijan
Brazil
Canada
Czech Republic
Denmark
Estonia
Finland
France
Germany
Gibraltar
Guernsey
Hungary

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Iceland
India
Ireland
Isle of Man
Italy
Jamaica
Je rse y
Latvia
Liechtenstein
Lithuania
Luxembourg
Malta
Mauritius
Mexico
Netherlands
New Zealand
Norway
Poland
Slovak Republic
Slovenia
South Africa
Spain
Sweden
United Kingdom

SECTION 4. EFFECT ON OTHER DOCUMENTS

Rev. Proc. 2014-64, as supplemented by Rev. Proc. 2015-50, is further
supplemented.
SECTION 5. DRAFTING INFORMATION

The principal author of this revenue proce dure is Jackie Bennett Manasterli of
the Office of Associate Chief Counsel (International). For further information regarding
this revenue proce dure co ntact Ms. Manasterli at (202) 317-5218 (not a toll- free ca ll) .