Us Qi Agreement
The corrections described above are consistent with the coordination rule in Section 1.6049-4(c)(4)(i) by removing the reporting requirement on Form 1099 for non-Americans. Payers reporting Model 1 MFIs when the conditions set out in paragraphs 1.6049-4(c)(4)(i) are met. The reference to the safeguard hold in point 8.06(A) of the revised QI Agreement is also deleted to comply with clause 8.06(B) and by the separate reference to the withholding requirements in sections 8.06(A)-1)-6) of the revised Qi Agreement. Section 1.03 of the 2014-39 Revenue Procedure provides: that an IQ that submits an application for IQ status before 31 July 2014 and that will be approved during the 2014 calendar year may, until 30 June 2014, act as an IQ in accordance with the 2000-12 Revenue Procedure (as amended), as if the IQ agreement for that IQ would enter into force on 1 January. Non-U.S. companies and certain foreign branches of U.S. companies may enter into the 2017 QI agreement with the IRS in order to fulfill their obligations as withholding agents pursuant to Chapters 3 and 4 (Foreign Account Tax Compliance Act or FATCA) of the Internal Income Code (Code) and as payers in accordance with Chapters 61 and 3406 of the Code for amounts paid to their account holders, . . . .