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| To exempt pre-existing arrangements from subsequent more restrictive laws or regulation.
| | A swap in which a fixed rate payer makes a single payment, on the maturity date, and the other party makes payments periodically. |
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| Grandfathering may be applied for the full natural life of pre-existing arrangements, or for a more limited period which is considered long enough to allow new and compliant arrangements to be put in place.
| | == See also == |
| | | * [[Swap]] |
| | | * [[Zero coupon]] |
| '''Example'''
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| ''The Internal Revenue Service is extending the grandfathering protection for non-US arrangements caught under the Foreign Account Tax Compliance Act (FATCA).
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| ''The protection is extended from 1 January 2013 to six months after the regulations are finalised, estimated to be July 2013 at the earliest.''
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| '' FATCA imposes US withholding taxes and significant compliance obligations on financial institutions such as banks and insurance companies.''
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| ''(The Treasurer December 2012/January 2013).''
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| == See also== | |
| * [[FATCA]] | |
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| ===Other links===
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| [http://www.treasurers.org/node/9713 Feeling the force of FATCA, The Treasurer, December 2013/January 2014]
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:Compliance_and_audit]] | |
Revision as of 12:13, 22 June 2016
A swap in which a fixed rate payer makes a single payment, on the maturity date, and the other party makes payments periodically.
See also
