Hedge funds fear Fatca

Hedge funds and private equity managers cannot realistically avoid complying with the US Foreign Account Tax Compliance Act (Fatca) if they run an international business, argued Asia-based industry experts in a roundtable discussion* chaired by AsianInvestor last month. From January 1, Fatca will force all global financial companies to report details to the IRS, the US tax authority, of any clients linked to the US with more than $50,000 in an account. These rules partly put the r…