{"abstract":"This document contains proposed regulations under chapter 4 of Subtitle A (sections 1471 through 1474) of the Internal Revenue Code of 1986 (Code) describing the verification requirements (including certifications of compliance) and events of default for entities that agree to perform the chapter 4 due diligence, withholding, and reporting requirements on behalf of certain foreign financial institutions (FFIs) or the chapter 4 due diligence and reporting obligations on behalf of certain non-financial foreign entities. These proposed regulations also describe the certification requirements and procedures for IRS's review of certain trustees of trustee-documented trusts and the procedures for IRS's review of periodic certifications provided by registered deemed-compliant FFIs. In addition, these proposed regulations describe the procedures for future modifications to the requirements for certifications of compliance for participating FFIs. These proposed regulations also describe the requirements for certifications of compliance for participating FFIs that are members of consolidated compliance groups. In addition, in the Rules and Regulations section of this issue of the Federal Register, the Department of the Treasury (Treasury Department) and IRS are issuing temporary regulations that provide additional guidance under chapter 4 (temporary chapter 4 regulations). The text of the temporary chapter 4 regulations also serves as the text of the regulations contained in this document that are proposed by cross-reference to the temporary chapter 4 regulations. The preamble to the temporary chapter 4 regulations explains the temporary chapter 4 regulations and these proposed regulations that cross-reference to the temporary chapter 4 regulations.","action":"Notice of proposed rulemaking; notice of proposed rulemaking by cross-reference to temporary regulation.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2017/01/06/2016-31599.html","cfr_references":[{"chapter":null,"citation_url":null,"part":1,"title":26}],"citation":"82 FR 1629","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Written or electronic comments and requests for a public hearing must be received by April 6, 2017.","disposition_notes":null,"docket_ids":["REG-103477-14"],"dockets":[],"document_number":"2016-31599","effective_on":null,"end_page":1645,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2017/01/06/2016-31599.xml","html_url":"https://www.federalregister.gov/documents/2017/01/06/2016-31599/chapter-4-regulations-relating-to-verification-and-certification-requirements-for-certain-entities","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2016-31599?publication_date=2017-01-06","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2017-01-06/2016-31599/mods.xml","not_received_for_publication":null,"page_length":17,"page_views":{"count":2624,"last_updated":"2026-04-04 16:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2017-01-06/pdf/2016-31599.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2016-31599.pdf?1483132523","publication_date":"2017-01-06","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2017/01/06/2016-31599.txt","regulation_id_number_info":{"1545-BL96":{"issue":"201904","html_url":"https://www.federalregister.gov/regulations/1545-BL96/regulations-relating-to-verification-requirements-of-sponsoring-entities-for-chapter-4-withholding-p","title":"Regulations Relating to Verification Requirements of Sponsoring Entities for Chapter 4 Withholding Purposes","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201904&RIN=1545-BL96&operation=OPERATION_EXPORT_XML","priority_category":"Other Significant"}},"regulation_id_numbers":["1545-BL96"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BL96/regulations-relating-to-verification-requirements-of-sponsoring-entities-for-chapter-4-withholding-p","title":"Regulations Relating to Verification Requirements of Sponsoring Entities for Chapter 4 Withholding Purposes"},"comments_count":4,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2017-0001","supporting_documents_count":0,"docket_id":"IRS-2017-0001","document_id":"IRS-2017-0001-0002","regulation_id_number":"1545-BL96","title":"Chapter 4 Regulations Relating to Verification and Certification Requirements for Certain Entities and Reporting by Foreign Financial Institutions (REG-103477-14)","checked_regulationsdotgov_at":"2022-02-12T04:30:05Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":1629,"subtype":null,"title":"Chapter 4 Regulations Relating to Verification and Certification Requirements for Certain Entities and Reporting by Foreign Financial Institutions","toc_doc":"Regulations Relating to Verification and Certification Requirements for Certain Entities and Reporting by Foreign Financial Institutions","toc_subject":null,"topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Proposed Rule","volume":82}