The U.S. IRS's Search and Download Tool for foreign financial institutions (FFI) that are compliant with the Foreign Account Tax Compliance Act (FATCA) is scheduled to be available online from June 2014. Under the Foreign Account Tax Compliance Act (FATCA), withholding agents must withhold tax on certain payments to foreign financial institutions (FFIs) that have not agreed to report U.S. accounts or accounts of foreign entities with U.S. owners. With the tool, a list of FFIs that have registered and been issued a global intermediary identification number (GIIN) can be downloaded in its entirety or searched for specific information. The...