IIAC REQUESTS RELIEF FOR QUALIFIED INTERMEDIARY RESPONSIBLE OFFICER CERTIFICATION DEADLINES
The IIAC submitted a letter to the U.S. Internal Revenue Service (IRS) requesting relief from certain Qualified Intermediary (QI) Responsible Officer Certification deadlines. It has been challenging for some firms, because of the COVID-19 pandemic, to complete in-person external reviews and make any necessary corrections post-reviews.
The IIAC also reiterated a previous request for a permanent change to the deadline for those QIs who select the third year of the review cycle for the periodic review, due to insufficient time to complete the periodic review.
For more information, please contact Adrian Walrath.