Publications

Aaron Aisen Quoted in "Navigating the FATCA Minefield," Captive Review July 2014

Aaron J. Aisen, an attorney in Goldberg Segalla’s Global Insurance Services and Banking and Financial Institutions Practice Groups, was quoted in the article, “Navigating the FATCA Minefield,” in the July issue of Captive Review. The article explores the looming Foreign Account Tax Compliance Act (FATCA) deadline and the likely impact it will have on captive services providers domiciled offshore.

Aaron explained that a captive that deals in annuities or cash value products will be required to provide certain certifications that it is compliant with the necessary reporting requirements under FATCA in order to avoid being subject to the 30 percent withholding.

“However, there is an exception,” Aaron said. “If the off-shore captive that deals in these annuities and cash-value products makes a 953(d) election to be taxed as a US person and is regulated by a US regulator, the captive then can be classified as a US person for both tax and FATCA purposes.”

Read the article here: