Chapter 1: Introduction

a withholding agreement with the IRS to be treated as a withholding foreign partnership. A WT is a foreign simple or granter trust that has in effect a withholding agreement with the IRS to be treated as a withholding foreign trust. Each QI/WP/WT account in the QI/WP/WT system is required to specify the following authorized users: one responsible officer and one contact person, and up to two optional powers of attorney.

Authorized users of the QI/WP/WT system are individuals that have an existing QI, WP, or WT agreement, or wish to apply for QI, WP, or WT status. These authorized users will generally be executives, tax personnel and attorneys of foreign financial institutions (although some are nonfinancial institutions) and their powers of attorney (POAs). Each authorized user will need their own login account to access the QI/WP/WT system and will be recorded as a responsible officer, contact person or power of attorney on one or more QI/WP/WT accounts.

• To avoid errors while using the QI/WP/WT system:

  • Use the compatible browsers listed in the QI/WP/WT System FAQs.

  • Always access the QI/WP/WT system from the QI/WP/WT system landing page and save this as a bookmark/favorite URL for your future login sessions.

  • Access the QI/WP/WT system by using only one tab of a compatible internet browser. Do not use more than one tab or internet browser window to conduct the same QI/WP/WT session.

  • Do not use accented or non-U.S. keyboard characters to enter data into the QI/WP/WT system.

  • Do not use a team or shared email address whenever prompted for a user’s email address. The email address must be unique to the user.

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• A user’s contact information (particularly their email address, first name (given name), last name (family name)) must be the same throughout the QI/WP/WT system, including the user’s login account and contact information on all the user’s QI/WP/WT account(s).

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